Business
Completion of bank refinancing
Completion of bank refinancing.
About this update from Wh Smith Plc
[{"type":"text","content":"\n\n \nWH SMITH PLC\n \nThe global travel retailer\n \n14 June 2023\n \nCompletion of bank refinancing with new long term £400m\nsustainability linked facility\n \nWH Smith PLC is pleased to announce that it has completed the refinancing of the Group's existing £363m lending facilities.\n \nThe Group's existing £363m lending facilities, consisting of a £250m revolving credit facility ('RCF') and a £113m term loan have been cancelled and repaid. This repayment is funded by drawings under new facilities consisting of a £400m RCF (the 'New RCF'). The New RCF is a sustainability linked loan finance facility.\n \nThe New RCF is for a five year term with two uncommitted extension options of one year each, which would, subject to lender approval, extend the tenor of the New RCF to six or seven years, if exercised. The New RCF is provided by a syndicate of banks: Barclays, BNP Paribas, Citi Commercial Bank, Fifth Third, HSBC, JP Morgan, PNC, Santander and SEB.\n \nRobert Moorhead, Group Chief Financial Officer and Chief Operating Officer, commented:\n \n\"We are delighted to complete this refinancing. The new facilities, which are on improved terms, support our strategic ambitions to grow our global travel retail business. We look forward to working with our banks to deliver the significant growth opportunities in our global travel retail markets.\"\n \n \n \nEnquiries:\n \n\n\n\n\nWH Smith PLC\nMark Boyle\nNicola Hillman\n \n\n\n&n...