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Volex PLC - Basingstoke-based electronics manufacturer - Completes refinancing with a syndicate of five banks, replacing existing USD100 million revolving credit facility with USD200 million committed facility, as well as USD100 million uncommitted accordion. The facility has an initial maturity date of February 2025, with the possibility of two one-year extensions, and is structured as a USD125 million RCF and USD75 million loan.
The refinancing will provide Volex with increased liquidity to support its growth strategy of further investment in organic and inorganic growth opportunities.
"The new facilities also strengthen our ambitions to deliver sustainable growth as we continue to perform robustly, successfully navigating the current supply chain challenges while demonstrating our ongoing ability to pass through inflationary cost increases," said Chief Financial Officer Jon Boaden.
Current stock price: 270.00 pence, down 2.5% on Monday
12-month change: down 22%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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