19 Oct 2022 17:00
19 October 2022
Jet2 plc ("Jet2", the "Group" or the "Company")
New Revolving Credit Facility
Jet2 plc is pleased to announce that it has entered into a new Revolving Credit Facility ("RCF") with Barclays Bank plc; Lloyds Bank plc; HSBC UK Bank plc and National Westminster Bank plc.
The RCF which is unsecured, provides the Group with available facilities of up to £300m, which is an increase on its previous RCF of £100m.
The Board has also considered the Group's current liquidity position and medium term liquidity requirements and consequently has repaid in full the Group's short term loan facility of £150m which was due to mature in September 2023, with the new RCF remaining undrawn.
Jet2 plc's Executive Chairman Philip Meeson said:
"We are delighted to build on our existing relationship with Barclays Bank plc, Lloyds Bank plc and HSBC UK Bank plc and to welcome National Westminster Bank plc as a key financing partner of the Group. The increase in the RCF reflects the considerable growth of the Jet2 business and will also provide the Group with additional financial flexibility for the future.
For further information, please contact:
Jet2 plc Philip Meeson, Executive Chairman Gary Brown, Group Chief Financial Officer | 0113 239 7692 |
Cenkos Securities plc Nominated Adviser Katy Birkin / Camilla Hume | 020 7397 8900 |
Canaccord Genuity Joint Broker Adam James | 020 7523 8000 |
Jefferies International Limited Joint Broker Ed Matthews | 020 7029 8000 |
Buchanan Financial PR Richard Oldworth | 020 7466 5000 |
Certain information contained in this announcement would have been deemed inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time, until the release of this announcement.
Jet2 (JET2)