Extension of Bank Debt and Bonding Facilities

RNS Number : 9755G

Costain Group PLC

21 November 2022

 

 

Costain Group PLC

21 November 2022

Costain Completes Extension of its Bank Debt and Bonding Facilities

 

Costain Group PLC ("Costain" or the "Group") announces that it has successfully concluded its negotiations with its bank and surety facility providers to secure a one year "amend and extend" of its facilities from September 2023 to September 2024.

The facility is backed by a group of five banks and five sureties.

The Group's debt facilities under the new agreements comprise an undrawn £125m revolving credit facility (RCF) (previously £131m) and surety and bank bonding facilities totalling £280m (previously £310m). The Group has prepaid the full balance of £36m of its Term Loan facility from its cash resources.

Lloyds Bank acted as the Coordinator for the banking group.

Costain has entered into negotiations with its banks to transition the £125m RCF to a sustainability-linked debt facility.

Enquiries

 

Investors and analysts  [e-mail]

Paul Sharma, Costain      [phone]

Financial media - Headland 

Andy Rivett-Carnac  [phone]

Notes to editors

 

Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet to thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's transport, energy, water, and defence markets.

We are organised around our customers anticipating and solving their challenges and helping to improve performance. By bringing together our unique mix of construction, consulting and digital experts we engineer and deliver sustainable, efficient and practical solutions.

 

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