REG - Weir Group PLC - Weir Group agrees new US$800m RCF

WeirAnnouncement

13/04/2022 07:00

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RNS Number : 1860I  Weir Group PLC  13 April 2022

Press Release

13 April 2022

New US$800m RCF agreed

The Weir Group PLC has successfully completed the refinancing of its main
banking facility, with a syndicate of 11 global banks. The
new US$800m Revolving Credit Facility (RCF) will mature in April 2027 with
the option to extend for up to a further two years. The margin on the new
facility is significantly lower than the previous facility that was agreed
during the early stages of the Covid-19 pandemic and reflects positive credit
rating momentum over the last two years as Weir has continued to reduce
leverage and show its resilience as a mining technology focused business
. This new facility replaces the existing US$950m RCF that was due to mature
in June 2023. All key terms including covenants remain unchanged.

 

 Enquiries:
 Investors: Edward Pears          +44 (0) 141 308 3725

 Media: Citigate Dewe Rogerson:   +44 (0) 207 638 9571

 Kevin Smith                      Weir@citigatedewerogerson.com (mailto:Weir@citigatedewerogerson.com)

 

About The Weir Group PLC

 

Founded in 1871, The Weir Group PLC is one of the world's leading engineering
businesses with a purpose to make its mining and infrastructure customers'
operations more sustainable and efficient. Weir's highly engineered technology
enables critical resources to be produced using less energy, water and waste
while reducing customers' total cost of ownership. The Group is ideally
positioned to benefit from structural trends that support long-term demand for
its technology including the need for more essential metals to support
economic development and carbon transition. The Group has c.11,000 employees
operating in over 60 countries with a presence in every major mining region of
the world. Find out more at www.global.weir.

 

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN)
and its American Depositary Receipts trade over-the-counter in the USA
(ticker: WEGRY).

 

 

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