Heavy construction materials group SigmaRoc said it had entered into a new credit facility of up to £125 million led by Santander UK and including several other UK and European banks.
The senior credit facility comprised an £85 million committed term facility and a £40 million accordion option.
SigmaRoc said it would provide will provide further capacity and flexibility to support its ongoing buy-and-build strategy, as well as reducing like-for-like borrowing costs.
The loan had a five-year term and was non-amortising during the first three years, with an interest of 2.5% over Libor at two times net debt to underlying earnings.
At 9:20am: (LON:SRC) SigmaRoc Plc share price was 0p at 49.5p