Completion of New Group Banking Facility
Fevara plc has secured a new three-year banking facility with HSBC, comprising £20 million in committed revolving credit facilities and an additional £10 million uncommitted. This facility, which can be extended for two further one-year periods, will expire in November 2028 and is intended to support the company's strategic expansion into counter-seasonal southern hemisphere markets. The Chief Executive expressed satisfaction with the refinancing and increased RCF, highlighting its role in enabling the company's growth ambitions.
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Fevara plc (LSE: FVA), an international specialist agriculture manufacturer and provider of research-proven, value-added livestock supplements, is pleased to announce the completion of a new Group banking facility with HSBC.
The new facility consists of a Revolving Credit Facility ("RCF") with £20 million of committed facilities and a further £10 million of uncommitted facilities. The banking facility is valid for three years and expires in November 2028, with two further one-year extension periods beyond this date.
The new facility will support Fevara's entry into complementary, counter-seasonal southern hemisphere markets, in line with our strategic priority to expand into new, extensive grazing-based growth markets.
Joshua Hoopes, Chief Executive Officer of Fevara plc commented: "We are pleased to have successfully refinanced and increased our RCF, providing the resources and capability to fully deliver on our strategic growth ambitions as a focused agriculture business."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.