24th Nov 2011 07:00
Premier Farnell plc is holding an investor morning in London today. No new data will be disclosed other than the matter below.
The company announces that it has concluded the refinancing of its banking debt with the establishment of a £200m 5 year multicurrency revolving facility expiring in October 2016. The facility is with a `club' of Barclays, Bank of America, HSBC, RBS and Santander. In addition the company has issued $235m US Private Placement Notes with tenures of between 5 and 10 years. These facilities give the group the medium term funding security to execute its strategy with confidence and provide the opportunity to consider repaying existing, more expensive debt.
PINXRelated Shares:
PFL.L