Costain Group PLC Extension of Bank Debt and Bonding Facilities

TIDMCOST

Costain Group PLC

21 November 2022

Costain Group PLC

21 November 2022

Costain Completes Extension of its Bank Debt and Bonding Facilities

Costain Group PLC ("Costain" or the "Group") announces that it has successfully concluded its negotiations with its bank and surety facility providers to secure a one year "amend and extend" of its facilities from September 2023 to September 2024.

The facility is backed by a group of five banks and five sureties.

The Group's debt facilities under the new agreements comprise an undrawn GBP125m revolving credit facility (RCF) (previously GBP131m) and surety and bank bonding facilities totalling GBP280m (previously GBP310m). The Group has prepaid the full balance of GBP36m of its Term Loan facility from its cash resources.

Lloyds Bank acted as the Coordinator for the banking group.

Costain has entered into negotiations with its banks to transition the GBP125m RCF to a sustainability-linked debt facility.

Enquiries

   Investors and analysts                                               paul.sharma@costain.com 
   Paul Sharma, Costain                                                 +44 7867 501188

Financial media - Headland

   Andy Rivett-Carnac                                                    +44 7968 997 365

Notes to editors

Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet to thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's transport, energy, water, and defence markets.

We are organised around our customers anticipating and solving their challenges and helping to improve performance. By bringing together our unique mix of construction, consulting and digital experts we engineer and deliver sustainable, efficient and practical solutions.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRABKFBDFBDDQDD

(END) Dow Jones Newswires

November 21, 2022 02:00 ET (07:00 GMT)

Costain (LSE:COST)
Historical Stock Chart
From Jul 2024 to Jul 2024