Last checked at 20 Mar 2017 07:00
Marston's PLC
New Bank Facility
20 March 2017
Marston's PLC ("Marston's" or "the Group") announces that it has agreed a new Bank facility to replace the £257.5 million existing facility which was due to expire in November 2018.
The new facility extends to March 2022 and comprises a £320 million loan commitment, with an incremental £40 million accordion facility providing additional flexibility, at improved terms.
The new facility will be provided by Barclays, Lloyds, HSBC, Santander and the Bank of Ireland.
Ralph Findlay, CEO, commented:
"This new facility further improves the efficiency of our funding. It provides the Group with the certainty of long term financing whilst also taking advantage of current low interest rates, enabling Marston's to fulfil its future expansion plans in the most cost effective way possible."
ENQUIRIES
Marston's PLC Tel: 01902 329516
Ralph Findlay, Chief Executive Officer
Andrew Andrea, Chief Financial Officer
Instinctif Partners Tel: 020 7457 2020
Justine Warren
Matthew Smallwood
NOTES TO EDITORS
· Marston's is a leading pub operator and independent brewer.
· It has an estate of 1,569 pubs situated nationally, comprising managed, franchised and leased pubs.
· It is the UK's leading brewer of premium cask and bottled ales, including Marston's Pedigree, Wainwright and Hobgoblin. The beer portfolio also includes Banks's, Jennings, Wychwood, Ringwood, Brakspear and Mansfield beers.
· Marston's employs around 14,000 people.