Successful Refinancing of £110m Banking Facilities
Brickability Group plc has successfully refinanced its banking facilities, securing a £60 million revolving credit facility and a £50 million term loan for an initial three-year term with extension options. These facilities, provided by existing lenders HSBC and Barclays, maintain the same pricing as the previous arrangement and include an accordion feature allowing for an additional £40 million increase. This refinancing demonstrates continued support for the company's growth strategy and provides financial flexibility.
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Brickability Group plc (AIM: BRCK), a leading distributor and provider of specialist products and services to the UK construction industry, is pleased to announce the successful renewal of the Group's banking facilities, which were due to mature in October 2026.
The renewed £60 million Revolving Credit Facility and a £50 million Term Loan are for an initial three-year term, with two extension options, each of one further year, and are provided by the Group's existing lenders, HSBC and Barclays, on club basis and reflecting continued support for the Group's growth strategy.
The increased facilities are provided at the same pricing as the existing facility and also incorporate an accordion feature allowing the Group to increase the facility by up to an additional £40 million.
| Brickability Group PLC John Richards, Chairman Frank Hanna, Chief Executive Officer Mike Gant, Chief Financial Officer | via Burson Buchanan |
| Cavendish (Nominated adviser and broker) Ben Jeynes, George Lawson, Elysia Bough (Corporate Finance) Michael Johnson, Sunila De Silva - Sales / ECM | +44 (0) 207 220 0500 |
| Burson Buchanan (Financial PR) Mark Court | +44 (0) 207 466 5000 brickability@buchanancomms.co.uk |
Stephanie Whitmore Abby Gilchrist
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.