28th Jan 2014 17:39
LONDON (Alliance News) - Whitbread PLC Tuesday said it has extended its GBP650 million bank facility by two years to November 4, 2018.
The deal includes an option for the hotel and coffee-shop operator to extend the facility by another two years beyond that date, subject to consent of the banks.
The pricing of the financing arrangement is unchanged.
"[The] continuing support of our core relationship banks for this maturity extension of our loan facility [...] together with our private placement notes meets the medium term funding needs of the group to support our growth programme," Nicholas Cadbury, finance director, said in a statement.
Whitbread shares Tuesday closed at 3,793.78 pence, up about 0.9%.
By Samuel Agini; [email protected]; @samuelagini
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