C&C Group Plc Statement re Refinance of Group bank facilities
July 13 2018 - 1:00AM
UK Regulatory
TIDMCCR
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 EUR450m, and a 3-year Term
loan of EUR150m. 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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(END) Dow Jones Newswires
July 13, 2018 02:00 ET (06:00 GMT)
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