New Forward Start Banking Agreement Signed

RNS Number : 1041U

Travis Perkins PLC

16 December 2011

 



16 December 2011

TRAVIS PERKINS PLC

Travis Perkins announces signing a new £550 million Forward Start Banking Agreement

Travis Perkins plc ('Travis Perkins'), the UK's leading builders' merchant and home improvement retailer, announces that it has signed a new £550 million Forward Start Banking Agreement with a syndicate of banks led by Barclays Corporate, Lloyds TSB Bank and The Royal Bank of Scotland. 

The £550 million facility, which can be drawn from April 2013, the expiry date for the Group's existing £800 million facility agreement, runs until December 2016, and is at a level that provides the Travis Perkins Group with the bank funding it requires for the foreseeable future.

The new agreement will increase the Group's funding costs in line with changes that have occurred in the market since the last financing agreement was signed in 2008. As a result it is anticipated that the Group will incur additional financing costs of around £4m in 2012.

The existing facility, which currently totals £800m, continues until April 2013 with further amortisation repayments of £29m in both April 2012 and October 2012.

Enquiries:
Geoff Cooper, Chief Executive
Travis Perkins PLC	[phone]
David Bick/Mike Feltham/Mark Longson
Square1 Consulting Limited	[phone]

 

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