Harworth Group plc (HWG.L, HWGLF), a regeneration and strategic land owner and developer, on Wednesday announced it has signed a new 275 million pounds revolving credit facility.
The credit facility includes an uncommitted accordion option that could lift the total to 325 million pounds.
The facility carries a core margin of 200 basis points over SONIA and has an initial four-year term, extendable to up to five years with bank consent.
The syndicate includes NatWest, Santander and HSBC, with the capacity to add further lenders.
The new facility replaces the company's 240 million pounds facility and extends the Group's debt maturity by about 2.5 years.
On Tuesday, Harworth Group closed trading 0.62% higher at GBP 162 on the London Stock Exchange.
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