Marston's agrees new bank facility

20 March 2017 by
Marston's agrees new bank facility

Pub operator and independent brewer Marston's has agreed a new bank facility to replace the £257.5m existing one, which was due to expire in November 2018.

The new facility extends to March 2022 and comprises a £320m loan commitment, with an incremental £40m accordion facility providing additional flexibility, at improved terms.

The new facility will be provided by Barclays, Lloyds, HSBC, Santander and the Bank of Ireland.

Marston's chief executive Ralph Findlay said: "This new facility further improves the efficiency of our funding. It provides the group with the certainty of long term financing while also taking advantage of current low interest rates, enabling Marston's to fulfil its future expansion plans in the most cost effective way possible."

Marston's has an estate of 1,569 managed, franchised and leased pubs.

Marston's reports record revenue following brand expansion >>

Marston's hails ‘solid' 2016 growth >>

Euro 2016 and Brexit makes no impact on Marston's >>

Marston's sells off £35m of pub and office assets >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking