Wincanton PLC Two Year Extension of Revolving Credit Facility (4485K)
December 14 2018 - 2:00AM
UK Regulatory
TIDMWIN
RNS Number : 4485K
Wincanton PLC
14 December 2018
14 December 2018
WINCANTON PLC
("Wincanton" or the "Group")
Two Year Extension of Revolving Credit Facility
Wincanton, a leading provider of supply chain solutions in the
UK and Ireland, is pleased to announce the successful completion of
an Amend and Extend to its existing Multi Currency Revolving Credit
Facility (the "Facility").
The key elements of the agreement are as follows:
-- Extend the term of the Facility from expiry in October 2021 to October 2023
-- Maintain the Facility at GBP141.2m throughout the term and
remove mandatory prepayments of GBP8.8m previously due in October
2019 and October 2020
-- Introduce another Lender to the relationship with ABN Amro
Bank NV, joining existing members AIB Group (UK) plc, Barclays Bank
plc, HSBC UK Bank plc, and Santander UK plc
-- No change to the existing interest rates
Tim Lawlor, CFO of Wincanton, commented:
"I am pleased that we have been able to extend the maturity of
our core financing arrangements for a further two years at existing
lending rates which ensures we have sufficient flexibility and
certainty to fund our ongoing business activities and provide
capacity for future growth".
-Ends-
For further information please contact:
Wincanton Plc Tel: 01249 710 000
Adrian Colman, Chief Executive Officer
Tim Lawlor, Chief Financial Officer
Buchanan Tel: 020 7466 5000
Richard Oldworth / Chris Lane / Maddie
Seacombe
Notes to Editors
Wincanton plc
Wincanton is the largest British logistics firm, providing
supply chain solutions to some of the world's most admired brands
across a wide range of industries including retail, construction,
defence and energy.
As a trusted and respected business partner, we design and
implement services and solutions that range from setting up and
operating distribution networks through to bonded warehouses,
technology hosting, container transport and storage. We strive for
operational excellence in everything we do.
We work hard to understand and respond to our customers' needs,
build long term relationships and use our skills and expertise to
deliver a smarter, added value service, every day. Our customers
rely on us to make their businesses operate more efficiently and to
gain a competitive advantage in their sector.
Improved stock visibility and availability, reduction of lead
times, collaborative warehousing and transport models, and an
absolute commitment to continuous improvement, are just some of the
reasons why many of our customer relationships extend to more than
20 years.
Key facts:
-- Annual revenue in the UK & Ireland exceeds GBP1.1 billion
-- Over 17,700 colleagues including 4,000+ drivers
-- Operates from 200+ locations with 7.6 million square feet of
warehousing across the UK and Ireland
-- Operating responsibility for around 3,400 vehicles
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END
MSCTJBFTMBJBBRP
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