Renold plc announced the extension of its core banking facilities that were due to mature in May 2020. The £61.5 million multi-currency revolving credit facility has been extended to March 2024 and includes an additional £20.5 million accordion feature which allows the Company to access additional funding should the need arise. The facilities, provided by HSBC, Allied Irish Bank (GB) and Citibank, provide a continued platform to support delivery of the Group's strategic plan. The principal facility terms are either unchanged, including the key Net Debt /EBITDA covenant, or beneficial to Renold.