Ashtead Group PLC Update on Senior Credit Facility (2288U)
July 28 2015 - 2:00AM
UK Regulatory
TIDMAHT
RNS Number : 2288U
Ashtead Group PLC
28 July 2015
ASHTEAD GROUP PLC
SENIOR CREDIT FACILITY INCREASED TO $2.6 BILLION AND EXTENDED TO
2020
28 July 2015
Ashtead Group plc ("Ashtead" or the "Company") is pleased to
announce that it has amended and extended its $2.0 billion senior
credit facility that was due to mature in 2018. The Company has
increased the facility size to $2.6 billion, reduced the cost to
LIBOR plus 125bps to 175bps and extended its maturity to July
2020.
Ashtead's chief executive, Geoff Drabble, commented:
"We are delighted to have completed this refinancing which
provides us with long term stability and capacity to continue the
execution of our well established strategy. It ensures that our
debt package remains well structured and flexible. Against a
backdrop of strong end markets and market share gains, we will
utilise the facility to support the needs of the business with
organic fleet growth. This growth combined with further greenfield
openings and bolt-on acquisitions will continue to broaden the
geographies and markets we serve. We continue to grow responsibly,
generating strong returns and maintaining leverage within our
stated objectives. I would like to thank the bank group for their
support in the further growth and development of Ashtead."
________________________________________________________________________
Enquiries:
Geoff Drabble Chief executive
+44 (0)20 7726
Suzanne Wood Finance director 9700
Will Shaw Director of Investor
Relations
+44 (0)20 7379
Becky Mitchell Maitland 5151
Tom Eckersley Maitland
This information is provided by RNS
The company news service from the London Stock Exchange
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