Completion of Refinancing

RNS Number : 3666E

McBride PLC

09 April 2014

 



9^th April 2014

McBride PLC

Completion of Refinancing

McBride PLC, Europe's leading provider of Private Label Household and Personal Care products, announces that it has concluded the refinancing of the Group's banking facilities.

The new arrangement provides €205 million comprising:

-     €65 million of loan notes issued in the US Private Placement market maturing in November 2020 and April 2022; and

-     a €140 million revolving credit facility of five year tenor, at a slight reduction in funding costs and with covenants unchanged, with Barclays, HSBC, KBC and BayernLB.

The new arrangements replace the current committed facility of €175 million which was due to mature in June 2015.

The refinancing provides McBride with a robust funding platform on attractive terms from which to deliver the company's growth plans in the medium term.

For further information please contact:
McBride plc
Chris Bull, Group Chief Executive	020 3642 1587
Richard Armitage, Group Finance Director	020 3642 1587
FTI Consulting
Ed Bridges, Nick Hasell	020 3727 1017

 

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