Carillion renews main bank facility

Support services group Carillion has renewed its main revolving bank facility and extended the maturity by nearly three years, from March 2018 to November 2020.

Carillion said the £790m facility has also attracted reduced pricing across the board, reflecting the strength of the group's credit standing.

This facility, together with private placement funding that expires between 2017 and 2024, convertible bonds maturing in 2019 and three small bilateral facilities, means that total funding available to Carillion is around £1.4bn, providing the company with “considerable financial strength to support its strategy for growth”.

Finance director Richard Adam said: "Extending our main revolving debt facility by nearly three years at improved pricing, clearly indicates the strength of Carillion's credit standing within the debt capital markets and their support for our strategy for growth."