31 Mar 2023 07:00
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31 March 2023
MARSTON'S PLC
("Marston's" or "the Group")
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Amendment and extension of Bank and Private Placement debt facilities
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Marston's is pleased to announce that it has successfully secured an amendment and extension of its bank and Private Placement debt facilities to the end of January 2025.
The revised £340 million debt facilities are comprised of a £300 million Revolving Credit Facility (the "RCF") with the continued support of all its existing and two new banks, together with a restatement of its current £40 million Private Placement (the "PP").
The RCF replaces the Group's existing £280 million facility. The facility cost is variable: to be determined by the level of leverage or drawings from time to time alongside changes in the SONIA rate. As previously reported £120 million of the facility is hedged.
The Group continues to make progress on its "Back to a Billion" strategy and trading remains in line with our expectations.
The Group will announce Interim Results on 16 May 2023.
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ENQUIRIES:
Marston's PLC Tel: 01902 329516 | Instinctif Partners Tel: 020 7457 2010/2005 |
Andrew Andrea, Chief Executive Officer Hayleigh Lupino, Chief Financial Officer | Justine Warren/Matthew Smallwood |
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NOTES TO EDITORS
• Marston's is a leading pub operator with a 40% holding in Carlsberg Marston's Brewing Company
• It operates an estate of 1,445 pubs situated nationally, comprising managed, franchised and leased pubs
• Marston's employs around 11,000 people
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