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Big Yellow Group PLC - Surrey, England-based self-storage facilities operator - Completes refinancing of revolving credit facility. Says it has put in place a new £300 million ESG-linked facility for an initial three-year term with a 1.25% margin, unchanged from existing RCF. Has option to extend this facility by two additional one-year terms through to December 2028, if lenders approve. Barclays Bank PLC joins existing lender syndicate of Lloyds Bank PLC, HSBC UK Bank PLC and Bank of Ireland. New facility’s conditions include annual pre-agreed environmental, social and governance targets, based on indicators such as increased solar generation capacity, and total annual grants to charity partners. Headline margin will be increased or decreased based on performance against the key performance indicators, measured annually. Chief Financial Officer John Trotman says the refinancing ‘increases the liquidity available to the group, with available headroom on our debt facilities of just over £200 million. The average maturity of our debt facilities is now four years.’ Current stock price: 1,201.00 pence 12-month change: up 3.6% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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