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Marston's agrees new bank facility to replace £257.5 million

CEO Ralph Findlay
Britain   Barclays, Lloyds, HSBC, Santander and the Bank of Ireland

Pub operator Marston's has agreed a new bank facility to replace the £257.5 million existing facility that was due to expire in November 2018.


The new facility extends to March 2022 and comprises a £320m loan commitment, with an incremental £40m accordion facility providing additional flexibility, at improved terms.

It will be provided by Barclays, Lloyds, HSBC, Santander and the Bank of Ireland.

CEO Ralph Findlay said: "This new facility further improves the efficiency of our funding.

"It provides the Group with the certainty of long term financing whilst also taking advantage of current low interest rates, enabling Marston's to fulfil its future expansion plans in the most cost effective way possible."


 

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