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Forterra increases facility to £170 million, extends to July 2024
By Sarah Lizee
Olympia, Wash., July 1 – Forterra plc said it has secured a refinancing of its existing amended and restated facility agreement, providing for an extended maturity by two years to July 2024 and an increase in the facility by £20 million to £170 million.
The refinancing also includes a package of covenant relaxations.
HSBC UK Bank plc, National Westminster Bank plc, Santander UK plc and Governor and Co. of the Bank of Ireland are the syndicate members, with Royal Bank of Scotland plc the agent.
The facility may be extended by an additional year.
Forterra is a United Kingdom-based manufacturer of ductile iron pipe, concrete pipe and precast products.
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