Imperial Brands Agrees $3.9 Billion Loan
March 31 2020 - 2:56AM
Dow Jones News
By Anthony O. Goriainoff
Imperial Brands PLC said Tuesday that it has agreed to a new 3.5
billion euro ($3.87 billion) loan to provide the business with
committed bank financing until March 2023.
The tobacco company--which houses Winston cigarettes, rolling
tobacco Golden Virginia and rolling paper Rizla among its
brands--said the new facility replaces its existing 3 billion pound
($3.72 billion) facility. The facility is currently undrawn and
underpins the liquidity position of the business, the company
added.
"The new facility was coordinated by NatWest, Santander and SMBC
and is provided by a syndicate of 20 banks," it said.
Imperial said there has been no material effect on the group's
performance to date from the coronavirus pandemic, and current
trading remains in line with expectations.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
March 31, 2020 02:41 ET (06:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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