£170m refinancing package puts Wincanton in fast lane for further growth

June 19, 2014
By

Chippenham-based logistics group Wincanton has refinanced its main banking facility for a further five-year term to support its growth ambitions.

The refinancing, provided by HSBC, RBS, Barclays, Lloyds and AIB and announced today in a statement to the London Stock Exchange, includes a new £170m facility, which the group said had improved pricing.  

Taking into account the group’s other financing arrangements, it said it now has a total of £300m now available.

Finance director Adrian Colman said: “This refinancing provides a strong platform to support growth over the next five years and considerably extends the maturity profile of the group’s debt.”

Earlier this month Wincanton posted pre-tax profits up 20.2% to £25.6m on a 1.1% rise in revenues to just under £1.1bn for the year to the end of March.

 

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