Bury St Edmunds: �400m credit facility for Greene King
PUBS and brewing group Greene King has secured a new five-year credit facility with its bankers.
The �400million facility replaces the Bury St Edmunds company’s previous arrangement which was for a similar sum but was due to expire in April next year.
Greene King said that, compared to the existing facility, which was arranged at more favourable margins in early 2007, before the onset of the financial crisis, the new facility was likely to increase the group’s annual interest costs by about �2.5million.
However, it added: “This new facility gives Greene King continued financial flexibility and helps underpin the ongoing delivery of our retail expansion and overall growth strategy”
For further detail, see the BusinessEast supplement in tomorrow’s East Anglian Daily Times