GCP Infra signs new revolving credit facility

GCP Infra has agreed a new revolving credit facility and cut its total commitment by £40m to £150m.

The three-year RCF has been agreed with four lenders, Lloyds Bank, Mizuho Bank, Allied Irish Bank and Clydesdale Bank (trading as Virgin Money).

As part of the refinance, the company repaid £10m of the RCF, reducing the drawn balance to £96m after accounting for accrued interest and refinance costs. Its net debt position is currently £72m.