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Informa completes Covid-19 financing action plan
StockMarketWire.com
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Informa has completed the Covid-19 financing action plan it launched at the beginning of the pandemic.
The FTSE100-listed group is now cancelling its short-term £750m surplus credit facility and £1.1bn in US Private Placement loan notes.
This action removes all financial covenants from Informa's balance sheet.
Informa commented that the completion of this plan, combined with its ongoing cost cutting programme (which is on track to deliver £600m of run-rate savings by the end of 2020) will ensure the group is cash positive from January 2021.
At 1:58pm: (LON:INF) Informa PLC share price was -24.4p at 546.4p
Story provided by StockMarketWire.com
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