Wincanton renews banking facility
Logistics firm Wincanton successfully refinanced its existing bank facility following the disposal of its Mainland European Operations in early January.
Logistics firm Wincanton successfully refinanced its existing bank facility following the disposal of its Mainland European Operations in early January.
The existing bank facility was due to expire in November 2012.
Under the new agreement, the firm will be provided with a £185m committed bank facility with a November 2015 maturity date and a £75m term facility with M&G UK Companies Financing Fund which expires in November 2021.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

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
Eric Born, Chief Executive, said: "This is an important step in the overall repositioning of Wincanton following the withdrawal from Europe. It ensures that Wincanton has facilities in place with a maturity profile that allows the Company to focus on delivering profitable growth in the solid UK & Ireland business and to generate positive cashflow in the future."
The share price rose 4.55% to 69p by 12:55PM.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
HMRC confirms crypto ETN ISA rules
With crypto ETNs now technically available for UK retail investors, HMRC has confirmed they can be held in an ISA – but there’s a complication
-
Pensioners targeted in fine wine scams – the tactics to watch for
Wine has emerged as the latest lure in investment fraud, with pensioners being specifically targeted by scammers