Carillion renews £790m banking facility

WOLVERHAMPTON construction and support services giant Carillion has renewed its main bank facility and extended its maturity date to November 2020 at lower pricing

Carillion said the fact the £790m facility has attracted reduced pricing across the board reflects the strength of the group’s credit standing. 

This facility, together with private placement funding that expires between 2017 and 2024, convertible bonds maturing in 2019 and three small bilateral facilities, means that total funding available to the group is now some £1.4bn, which, it says, will support its strategy for growth.

Carillion finance director Richard Adam said: “Extending our main revolving debt facility by nearly three years at improved pricing, clearly indicates the strength of Carillion’s credit standing within the debt capital markets and their support for our strategy for growth.” 

The name of the firm’s banking partner is not disclosed. 

 

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