Business
Refinancing of Funding Arrangements
Refinancing of Funding Arrangements.
About this update from Speedy Hire Plc
[{"type":"text","content":"\n \nRNS Number : 0141S Speedy Hire PLC 18 September 2014 \n \n\n \n \nSpeedy Hire Plc\n(\"Speedy\" or \"the Group\")\n \n \nRefinancing of Funding Arrangements\n \nSpeedy, the UK's leading tools, equipment, plant hire and services company, operating in the construction, infrastructure and industrial markets, announces that it has completed a refinancing of its funding arrangements, which were due to mature in August 2015.\n \nWith effect from 17 September 2014, the Group has secured a new £180 million 5-year asset-based revolving facility at an improved margin and with an agreement in place to support additional funding requirements in the future.\n \nCommenting on the refinancing, Mark Rogerson, Chief Executive Officer, said: \n \n\"We are delighted to have concluded this refinancing ahead of schedule and on improved terms reflecting our bankers' confidence in the business. Alongside our ongoing focus on cash generation, the new facility will provide us with the flexibility to support our strategy for growth.\"\n \n18 September 2014\n \nENQUIRIES:\n\n\n\n\nSpeedy Hire\n\n\nTel: +44 1942 720 000\n\n\n\n\nMark Rogerson, Chief Executive Officer\n\n\n\n\n\n\n\nLynn Krige, Group Finance Director\nJohn Fahey, Communications Director\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInstinctif Partners\n\n\nTel: +44 20 7457 2020\n\n\n\n\nMark Garraway\n\n\n\n\n\n\n\nHelen Tarbet\n\n\n\n\n\n\n\nJames Gray\n\n\n\n\n\n\n\n \n \n \nNotes to Editors:\nFounded in 1977, Speedy is the UK's leading provider of tools, equipment and plant hire, and support services to a wide range of clients across the construction, infrastructure, industrial sectors, as well as to local trade and industry. The Group provides complementary support services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM). Speedy is accredited nationally to ISO9001, ISO14001 and OHSAS18001. Operating from 246 fixed sites across the UK and Ireland, together with a number of on-site facilities at client locations throughout the UK, Ireland and from an international hub based in the Middle East.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLPMPTMBTBMLI\n ","length":5447,"tag...