REG - Marston's Plc - Amendment and extension of debt facilities

Marston'sAnnouncement

31/03/2023 07:00

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RNS Number : 8452U  Marston's PLC  31 March 2023

 

31 March 2023

MARSTON'S PLC

("Marston's" or "the Group")

 

Amendment and extension of Bank and Private Placement debt facilities

 

Marston's is pleased to announce that it has successfully secured an amendment
and extension of its bank and Private Placement debt facilities to the end of
January 2025.

The revised £340 million debt facilities are comprised of a £300 million
Revolving Credit Facility (the "RCF") with the continued support of all its
existing and two new banks, together with a restatement of its current £40
million Private Placement (the "PP").

The RCF replaces the Group's existing £280 million facility. The facility
cost is variable: to be determined by the level of leverage or drawings from
time to time alongside changes in the SONIA rate. As previously reported £120
million of the facility is hedged.

The Group continues to make progress on its "Back to a Billion" strategy and
trading remains in line with our expectations.

The Group will announce Interim Results on 16 May 2023.

 

ENQUIRIES:

 Marston's PLC            Tel: 01902 329516        Instinctif Partners     Tel: 020 7457 2010/2005
 Andrew Andrea, Chief Executive Officer            Justine Warren/Matthew Smallwood

 Hayleigh Lupino, Chief Financial Officer

 

NOTES TO EDITORS

•     Marston's is a leading pub operator with a 40% holding in
Carlsberg Marston's Brewing Company

•     It operates an estate of 1,445 pubs situated nationally,
comprising managed, franchised and leased pubs

•     Marston's employs around 11,000 people

 

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