Smurfit Kappa secures new €1.35bn credit facility

Writer, Stock Market Wire
Tuesday, January 29, 2019 - 15:06

Packaging group Smurfit Kappa said it had signed an unsecured €1.35bn revolving credit facility with 21 of its existing relationship banks.

The facility had an initial five-year term and may, subject to bank consent, be extended up to a maximum of seven years.

It would refinance the company existing senior credit facility, which matured in March 2020.

'This transaction is a continuation of our proactive financing strategy to reduce the cost and extend the term of our debt facilities while increasing the flexibility of our capital structure,' chief financial officer Ken Bowles said.

At 3:06pm: (LON:SKG) Smurfit Kappa Group PLC share price was +47p at 2241p

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