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Luceco obtains new £80 million three-year revolver
By Rebecca Melvin
Concord, N.H., Oct. 1 – Luceco plc announced it has obtained a new £80 million revolving credit facility, with the potential to expand borrowings by another £40 million via an accordion facility over the three-year term.
The facility is committed until Sept. 30, 2024, with an option to extend by up to two years.
The new facility replaces £50 million of existing facilities, including ending the group’s use of asset-backed financing, and expands the number of participating banks to four, including HSBC UK Bank plc, NatWest, Bank of China and Bank of Ireland.
Pricing is the same as existing facilities.
The lighting and wiring maker and distributor is based in London.
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