Severfield Completes Refinancing With New GBP50 Million Facility

By Joe Hoppe

Severfield PLC said Monday it has completed a refinancing with its current banking syndicate, obtaining a new 50 million pound ($66.2 million) line of credit.

The London-listed structural-steel company said the new facility replaces its original GBP25 million facility and extends its term to expire in December 2026.

"The new facility provides the group with enhanced liquidity and long-term financing to help support its growth strategy," Severfield said.

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(END) Dow Jones Newswires

12-20-21 1342ET