Severfield PLC Completion of successful refinancing (2525W)
20 Diciembre 2021 - 10:30AM
UK Regulatory
TIDMSFR
RNS Number : 2525W
Severfield PLC
20 December 2021
20 December 2021
Severfield plc
('the Company' or 'the Group')
Completion of successful refinancing
Severfield plc, the market leading structural steel group, today
announces the completion of a refinancing of its revolving credit
facility ('RCF') with its current banking syndicate.
The new GBP50m RCF provides additional liquidity above the
GBP25m RCF which it replaces and extends the term of the facility
which now expires in December 2026. The RCF remains subject to
three financial covenants, interest cover, net debt to EBITDA and
debt service (cash flow) cover.
The new facility provides the Group with enhanced liquidity and
long-term financing to help support its growth strategy.
For further information, please contact:
Severfield Alan Dunsmore 01845 577 896
Chief Executive Officer
Adam Semple 01845 577 896
Group Finance Director
Jefferies International Simon Hardy 020 7029 8000
Will Soutar 020 7029 8000
Camarco Ginny Pulbrook 020 3757 4980
Tom Huddart 020 3757 4980
Notes to editors:
Severfield is the UK's market leader in the design, fabrication
and construction of structural steel, with a total capacity of
c.165,000 tonnes of steel per annum. The Group has six sites,
c.1,500 employees and expertise in large, complex projects across a
broad range of sectors. The Group also has an established presence
in the expanding Indian market through its joint venture
partnership with JSW Steel (India's largest steel producer).
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