Costain Group PLC Extension of Bank Debt and Bonding Facilities
November 21 2022 - 2:00AM
RNS Non-Regulatory
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.
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END
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