BBA Aviation Secures Extension To USD650 Million Loan To March 2023
LONDON (Alliance News) - Aviation support services firm BBA Aviation PLC said Monday it refinanced its USD650 million revolving credit facility due to mature in 2019.
BBA said the current facility was due to expire in April 2019 whilst the new facility's maturity date is not until March 2023.
The new facility was arranged "predominantly" with its existing lenders. The overall weighted average interest cost of the new facility is "in line" with the existing facility. BBA did not provide any further financial details.
"We are pleased to have secured the bank refinancing which provides the group with long-term financing to support the execution of our growth strategy," BBA Finance Director David Crook said.
Shares in BBA were 0.5% lower at 310.40 pence on Monday.
By Ahren Lester; [email protected]
Copyright 2018 Alliance News Limited. All Rights Reserved.
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