Big Yellow Group PLC Refinancing of revolving credit facility (2094X)
December 19 2023 - 1:00AM
UK Regulatory
TIDMBYG
RNS Number : 2094X
Big Yellow Group PLC
19 December 2023
19 December 2023
Big Yellow Group PLC
("Big Yellow", "the Group" or "the Company")
Refinancing of revolving credit facility
Big Yellow is pleased to announced that it has completed the
refinancing of its revolving credit facility.
The Group has put in place a new GBP300 million ESG-linked
facility for an initial term of three years, with the option to
extend the facility by two additional one-year terms through to
December 2028, subject to lender approval. The facility has been
provided by Lloyds Bank plc, HSBC UK Bank plc, Bank of Ireland, and
Barclays Bank plc, with Barclays joining the existing three bank
syndicate. The margin of 1.25% is unchanged from the existing
facility.
The Group has incorporated ESG-linked KPIs into the loan, which
include annual pre-agreed targets and are based on:
- Reductions in Scope 1 and 2 emissions
- Increase in solar generation capacity
- Total annual grants to Big Yellow Foundation charity partners
- The value of storage space provided free of charge to local charities in our stores
Performance against the KPIs will be measured annually, and a
margin decrease or increase will be applied to the headline margin
on the basis of this performance.
John Trotman, Chief Financial Officer of Big Yellow
commented:
"We are pleased to have completed this refinancing, which
increases the liquidity available to the Group, with available
headroom on our debt facilities of just over GBP200 million. The
average maturity of our debt facilities is now 4 years."
Enquiries:
James Gibson, Chief Executive Officer 01276 477811
John Trotman, Chief Financial Officer 01276 477811
Teneo 020 7260 2700
Charlie Armitstead
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDTPBRTMTTBBRJ
(END) Dow Jones Newswires
December 19, 2023 02:00 ET (07:00 GMT)
Big Yellow (LSE:BYG)
Historical Stock Chart
From May 2024 to Jun 2024
Big Yellow (LSE:BYG)
Historical Stock Chart
From Jun 2023 to Jun 2024