Ibstock refinances £125m RCV at improved pricing

(Sharecast News) - Building products manufacturer Ibstock said on Thursday that it has refinanced a £125m revolving credit facility at improved pricing. The facility, which was due to mature in November next year, has been renewed for an initial four-year term, with an extension option of one further year. It is provided by a syndicate of four of the company's existing lenders, "reflecting continued support for the group's strategy," it said.

As well as improved pricing, the facility incorporates an accordion feature which allows the group to increase it by up to an additional £50m.