Young & Co.'s Brewer taps UK govt financing facility; eyes new bank loans

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Young & Co.'s Brewer said it had been confirmed as an eligible issuer under the UK government's corporate financing facility and was also finalising new loan facilities.

The pub owner and beer brewer said it had issued paper with a nominal value of £30m and maturity date of 13 May 2021 under the government's Covid corporate financing facility.

It was also in the process of finalising a £50m syndicated term loan facility and a £20m bilateral revolving credit facility.

Young & Co.'s Brewer said its banks had agreed 'in principle' to replace its financial covenant tests at June, September and December this year and at March next year with a liquidity test.

At 9:27am: (LON:YNGA) Young Cos Brewery PLC share price was +52.5p at 1152.5p