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Marston’s PLC - Wolverhampton, England-based pub operator - Extends term of bank and private placement debt facilities to January 2025, while increasing the total available to £340 million from £320 million. Its revolving credit facility is increased to £300 million from £280 million, with all its existing banks taking part, plus two new ones. The interest rate is variable depending on underlying interest rates, plus Marston’s level of leverage and drawings. The private placement facility remains the same at £40 million. Marston’s says trading remains in line with company expectations, and it will release interim results on May 16. Making progress on its ’back to a billion’ strategy. Marston’s revenue in financial 2022 was £799.6 million, doubled from £401.5 million in financial 2021. Before the Covid-19 pandemic, in financial 2019, Marston’s booked £1.17 billion in revenue. Current stock price: 36.68 pence, up 3.0% on Friday in London 12-month change: down 55% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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