RCS - Costain Group PLC - Extension of Bank Debt and Bonding Facilities

CostainAnnouncement

21/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221121:nRSU9755Ga&default-theme=true

RNS Number : 9755G  Costain Group PLC  21 November 2022

 

 

Costain Group PLC

21 November 2022

 

 

Costain Completes Extension of its Bank Debt and Bonding Facilities

 

 

Costain Group PLC ("Costain" or the "Group") announces that it has
successfully concluded its negotiations with its bank and surety facility
providers to secure a one year "amend and extend" of its facilities from
September 2023 to September 2024.

 

The facility is backed by a group of five banks and five sureties.

 

The Group's debt facilities under the new agreements comprise an undrawn
£125m revolving credit facility (RCF) (previously £131m) and surety and bank
bonding facilities totalling £280m (previously £310m). The Group has prepaid
the full balance of £36m of its Term Loan facility from its cash resources.

 

Lloyds Bank acted as the Coordinator for the banking group.

 

Costain has entered into negotiations with its banks to transition the £125m
RCF to a sustainability-linked debt facility.

 

 

Enquiries

 

Investors and
analysts
paul.sharma@costain.com

Paul Sharma, Costain
                        +44 7867 501188

 

Financial media -
Headland

Andy
Rivett-Carnac
+44 7968 997 365

 

Notes to editors

 

Costain helps to improve people's lives by creating connected, sustainable
infrastructure that enables people and the planet to thrive. We shape, create
and deliver pioneering solutions that transform the performance of the
infrastructure ecosystem across the UK's transport, energy, water, and defence
markets.

 

We are organised around our customers anticipating and solving their
challenges and helping to improve performance. By bringing together our unique
mix of construction, consulting and digital experts we engineer and deliver
sustainable, efficient and practical solutions.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRABKFBDFBDDQDD