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Severfield PLC on Friday said it has signed a new three-year banking facility agreement with its existing lending syndicate. Existing banking facilities, comprising a £60 million revolving credit facility and a £7.6 million term loan, were due to mature in December 2027. The North Yorkshire, England-based maker of structural steel in the UK and India said the new agreement comprises: a renewed £60 million revolving credit facility, a continuation of the £7.6 million term loan facility, amortising through to December 2027 and a new accordion option of up to an additional £30 million, subject to lender consent. The facilities have an initial three-year term, running to June 2029, with two one-year extension options on the RCF subject to lender consent. Chief Financial Officer Andrew Page said: ‘The new facilities enhance our financial flexibility, extend our debt maturity profile and provide improved commercial terms reflecting the group’s strengthened financial position, as well as a strong platform to support the group’s future growth opportunities.’ Severfield will present full-year results and a strategy update on June 23. Shares in Severfield rose 0.8% to 26.70 pence each in London on Friday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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