Last checked at 13 Jul 2018 07:00
Refinance of Group bank facilities
Dublin, London | 13 July, 2018: C&C Group plc (“C&C” or the “Group”), a leading manufacturer, marketer and distributor of branded cider, beer, wines, spirits and soft drinks today announces completion of the refinancing of its Group bank facilities.
The Board is pleased to announce that it has completed the refinance and enlargement of its bank facilities with a syndicate of new and existing banks. The new facilities will comprise a 5-year multi-currency RCF facility of €450m, and a 3-year Term loan of €150m. The margin, covenants and other material terms have been maintained in line with C&C’s existing RCF facility. In addition, the Group has increased the facility size of its existing debtor securitisation.
Jonathan Solesbury, C&C Group CFO, said: “This transaction secures increased facilities for the enlarged Group with both the flexibility and scope to meet our long term corporate objectives. Following the significant strategic developments we have made, it was pleasing to agree attractive terms on the new facilities both from our long standing banking partners and new lenders to the syndicate.”
ENDS
Contacts
C&C Group plcJonathan Solesbury | Chief Financial OfficerJoe Thompson | Head of Investor RelationsTel: +44 7980 844 580Email: Joe.Thompson@candcgroup.com
FTI ConsultingMark KennyJonathan NeilanTel: +353 1 765 0800Email: CandCGroup@fticonsulting.com
Novella CommunicationsTim RobertsonToby AndrewsTel: +44 203 151 7008Email: TimR@novella-comms.com
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