Brickability refinances £110m on unchanged pricing

(Sharecast News) - Brickability Group announced the successful refinancing of its banking facilities on Tuesday, renewing £110m of funding on unchanged pricing as it extended its financing runway to support its growth strategy. The AIM-traded distributor to the UK construction industry said it renewed a £60m revolving credit facility alongside a £50m term loan, replacing facilities that were due to mature in October 2026.

It said the new arrangements were provided by existing lenders HSBC and Barclays on a club basis.

The facilities were agreed for an initial three-year term and included two one-year extension options.

Brickability said the refinancing was completed on the same pricing as its existing facilities, signalling continued lender support despite challenging conditions in parts of the UK construction market.

The renewed facilities also included an accordion feature that would allow the group to increase total borrowing capacity by up to a further £40m, providing additional financial flexibility should it pursue further investment or acquisition opportunities.

At 0854 GMT, shares in Brickability Group were up 0.84% at 53.04p.

Reporting by Josh White for Sharecast.com.