Balfour Beatty signs £850m credit facility
Balfour Beatty, the FTSE 250 infrastructure firm, has signed a five-year £850m syndicated revolving credit facility, refinancing a number of bi-lateral agreements which were due to expire in the next 12-15 months.
Balfour Beatty, the FTSE 250 infrastructure firm, has signed a five-year £850m syndicated revolving credit facility, refinancing a number of bi-lateral agreements which were due to expire in the next 12-15 months.
"[The facility] ensures Balfour Beatty has secured access to committed funding for the next five years and will be used for general corporate purposes," the statement said.
"After launching at £700m and closing at £850m, our agreed facility is indicative of the strength of the Balfour Beatty business and the confidence our lenders have in us," said chief financial officer Duncan Magrath.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares were making strong gains on Tuesday, finishing the day 5.13% higher at 241.7p, helped by the news that it had won a programme management consultancy contract on a £5bn roads and drainage scheme in Qatar. The contract is worth £104m to Balfour Beatty and has been awarded to its subsidiary, Parson Brinckerhoff.
BC
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published