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Wincanton obtains additional £40 million under revolving facility
By Sarah Lizee
Olympia, Wash., May 14 – Wincanton plc obtained an additional £40 million under its £141 million revolving credit facility due October 2023, according to a notice.
The banking consortium for the revolver comprises HSBC, Barclays, Santander, ABN AMRO and AIB.
The additional £40 million is available for drawdown for a period of 12 months from May in lieu of the uncommitted accordion facility.
The financial covenant tests are unchanged as a result of the extension.
During the 12-month period, the payment of any dividends will result in a corresponding reduction in size of the £40 million extension.
Wincanton is a logistics firm based in Chippenham, U.K.
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