Marston's agrees new bank facility

Marston's has agreed a new bank facility to replace the £257.5m existing facility, which was due to expire in November 2018.

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

The new facility would be provided by Barclays, Lloyds, HSBC, Santander and the Bank of Ireland.

CEO Ralph Findlay said the new facility further improved the efficiency of Marston's 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."