Amendment and extension of debt facilities

RNS Number : 8452U
Marston's PLC
31 March 2023
 

A black and white logo Description automatically generated with medium confidence

 

31 March 2023

MARSTON'S PLC

("Marston's" or "the Group")

 

Amendment and extension of Bank and Private Placement debt facilities

 

Marston's is pleased to announce that it has successfully secured an amendment and extension of its bank and Private Placement debt facilities to the end of January 2025.

The revised £340 million debt facilities are comprised of a £300 million Revolving Credit Facility (the "RCF") with the continued support of all its existing and two new banks, together with a restatement of its current £40 million Private Placement (the "PP").

The RCF replaces the Group's existing £280 million facility. The facility cost is variable: to be determined by the level of leverage or drawings from time to time alongside changes in the SONIA rate. As previously reported £120 million of the facility is hedged.

The Group continues to make progress on its "Back to a Billion" strategy and trading remains in line with our expectations.

The Group will announce Interim Results on 16 May 2023.

 

ENQUIRIES:

Marston's PLC             Tel: 01902 329516

Instinctif Partners    Tel: 020 7457 2010/2005

Andrew Andrea, Chief Executive Officer

Hayleigh Lupino, Chief Financial Officer

Justine Warren/Matthew Smallwood



 

NOTES TO EDITORS

• Marston's is a leading pub operator with a 40% holding in Carlsberg Marston's Brewing Company

• It operates an estate of 1,445 pubs situated nationally, comprising managed, franchised and leased pubs

Marston's employs around 11,000 people

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCQBLFXXXLZBBV

Companies

Marston's (MARS)
UK 100

Latest directors dealings