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Thu August 06 2020

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Refinancing for Speedy

19 Sep 14 Plant and tool hire group Speedy has completed a refinancing of funding arrangements that were due to mature in August 2015.

Speedy said that it had secured a new £180m five-year asset-based revolving facility at an improved margin and with an agreement in place to support additional funding requirements in the future.

Chief executive Mark Rogerson said: "We are delighted to have concluded this refinancing ahead of schedule and on improved terms reflecting our bankers' confidence in the business.  Alongside our ongoing focus on cash generation, the new facility will provide us with the flexibility to support our strategy for growth."

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