Business
£100m Facility Refinanced on Improved Terms
Stelrad Group plc has successfully refinanced its £100 million multicurrency facility agreement, securing improved terms and pricing for an initial three-year period with an option to extend for two further years. This renewed facility, supported by existing lenders, includes an accordion feature allowing for an additional £20 million, providing enhanced liquidity for working capital and investment. The Group anticipates further improvement in its debt leverage ratio, which stood at 1.37x in 2024, supported by strong cash management. Disclaimer*
About this update from Stelrad Group Plc
[{"type":"text","content":"\n\n9 December 2025\nStelrad Group plc\n(\"Stelrad\" or \"the Group\")\n \nRefinancing of £100 million multicurrency facility agreement at improved terms\n \nStelrad Group plc (\"Stelrad\" or \"the Group\", LSE: SRAD), a leading specialist manufacturer and distributor of steel panel and other designer radiators in the UK, Europe and Turkey, is pleased to announce the successful renewal of the Group's multicurrency facility agreement (\"Facility\") which was due to mature in November 2026.\n \nThe renewed £100 million Facility is for an initial three-year term, with an extension option for two further years and is provided by our two existing lenders, reflecting continued support for the Group's strategy.\n \nThe Facility is at improved terms and pricing and also incorporates an accordion feature allowing the Group to increase the Facility by up to an additional £20 million.\n \nThe Facility and the accordion facility (if exercised) provide the Group with additional liquidity which will be used for working capital purposes and to fund investment in accordance with the Group's capital allocation policy.\n \nAs previously stated, the Group's debt leverage ratio is expected to improve further during the year supported by strong cash management (2024: 1.37x).\n \n- ENDS -\n \nFor further information:\n \n\n\n\n\nStelrad Group plc\nTrevor Harvey, Chief Executive Officer\nLeigh Wilcox, Chief Financial Officer\n \n \n\n\n+44 (0)191 261 3301\n\n\n\n\nInvestec (Joint Corporate Broker)\nBen Griffiths / David Anderson / Tom Brookhouse \n \n\n\n+44 (0) 207 597 4000\n \n\n\n\n\nSinger Capital Markets (Joint Corporate Broker)\nGraham Hertrich / Sara Hale / James Todd\n \n\n\n+44 (0) 20 7496 3000\n\n\n\n\nSodali & Co\nJames White / Pete Lambie\n\n\n [email protected]\n+44 (0)7855 432 699\n\n\n\n\n \nNotes to Editors\nStelrad Group plc is Europe's leading specialist radiator manufacturer, selling an extensive range of hydronic, hybrid, dual fuel and electrical heat emitters to more than 500 customers in over 40 countries. These include sta...