Announcement of refinancing

RNS Number : 2750W

McColl's Retail Group plc

18 August 2015

 

18 August 2015

McColl's Retail Group plc

Announcement of refinancing

McColls Retail Group plc is pleased to announce that it has signed an amended £85m revolving credit facility and a £15m accordion for the group. This facility amends the group's existing £85m plus £15m accordion facilities which are due to expire in July 2018. The new facility will be in place until July 2020 and margins are at a lower cost than the existing arrangements. The facility has been arranged with a group of 4 banks, comprising the existing club members of Barclays Bank plc, Royal Bank of Scotland plc, Santander UK plc and AIB Group (UK) P.L.C.

Commenting on the announcement, James Lancaster, chief executive, said:

"We are delighted to have extended our existing facilities which give us the medium term funding security to execute our strategy with confidence. The continuing support of our banks reflects their confidence in the prospects of the group."

Enquiries Please visit www.mccolls.co.uk or for further information, please contact:
McColl's Retail Group plc James Lancaster, chief executive Jonathan Miller, chief financial officer [phone]	Media enquiries: Brunswick Anita Scott, Cerith Evans [phone]

 

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