REG - Costain Group PLC - Refinancing of Bank and Bonding Facilities

CostainAnnouncement

28/05/2025 07:00

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RNS Number : 3003K  Costain Group PLC  28 May 2025

 

 

Costain Group PLC

28 May 2025

 

Costain Completes Refinancing of its Bank and Bonding Facilities

 

 

Costain Group PLC ("Costain" or the "Group") announces that it has
successfully concluded negotiations with its bank and surety facility
providers to refinance a new four-year agreement of its bank and bonding
facilities to September 2029, with an option to extend by a further year.

 

The Group's new facility agreements replace the previous three-year facility
agreements to September 2026, as announced on 26 July 2023, and comprises an
£100m revolving credit facility ("RCF") (previous RCF: £85m), and surety and
bank bonding facilities totalling £295m (previous facilities: £270m).

The RCF was undrawn throughout 2024 and 2025 to date. Utilisation of the total
bonding facilities as of 31 December 2024 was £65.3m.

The new RCF is backed by a group of five banks, with Lloyds Bank PLC acting as
coordinator and agent bank, and with Crédit Industriel et Commercial London
Branch, HSBC UK Bank PLC, National Westminster Bank PLC and Banco de Sabadell,
S.A. (London Branch) as bookrunners and mandated lead arrangers, the latter
being a new addition to the banking group. The bank bonding facilities are
provided by three banks with six surety companies providing the surety bonding
facilities.

 

Alex Vaughan, Chief Executive Officer, commented:

"I am pleased that we have successfully secured a new four-year RCF and that
Banco de Sabadell has joined our banking group. The success of this
refinancing demonstrates the strong confidence our lenders and bond providers
have in our business model, strategic plans and balance sheet strength."

 

Costain will issue its results for the six months to 30 June 2025 on 20 August
2025.

 

Enquiries

 

 

 Investors and analysts      matt.jones@costain.com

 Matt Jones, Costain         +44 (0) 7860 922341
 Financial media - Headland  costain@headlandconsultancy.com (mailto:costain@headlandconsultancy.com)
 Andy Rivett-Carnac          +44 (0) 7968 997 365

 Charlie Twigg               +44 (0) 7946 494 568

 

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.

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