By Joe Hoppe

 

Severfield PLC said Monday it has completed a refinancing with its current banking syndicate, obtaining a new 50 million pound ($66.2 million) line of credit.

The London-listed structural-steel company said the new facility replaces its original GBP25 million facility and extends its term to expire in December 2026.

"The new facility provides the group with enhanced liquidity and long-term financing to help support its growth strategy," Severfield said.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

December 20, 2021 13:42 ET (18:42 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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