Speedy agrees £180m refinancing

TOOL and equipment rental company Speedy Hire has agreed a new £180m syndicated banking deal.

The Newton-le-Willows-based group has refinanced a £220m facility agreed three years ago and due to expire in August 2015.

It said the new five-year asset-based revolving facility was at an improved margin and included an agreement to support additional funding requirements in the future.

The package was provided by Bank of America Merrill Lynch, Barclays, GE Capital, HSBC, RBS and Wells Fargo, with each ... For the full story register now for free or login below...