Four-year credit facility is operational this month

Galliford Try has completed a four-year refinancing of its £325m debt facility, it revealed in a trading update this morning.

The new revolving credit facility is operational this month and replaces one that was due to mature in February next year.

The deal was arranged via its existing creditors HSBC, Barclays and RBS.

Finance director Frank Nelson said: “We are delighted by the strong demonstration of continuing support we have received from our long established relationship with banks. 

“The new facility provides long-term financing on competitive terms, strengthening our financial position and underpinning the group’s operational and strategic objectives.”