Stobart Group has announced the completion of a £50m four-year revolving credit facility with Lloyds Bank.
The credit facility can be drawn, repaid and redrawn in varying amounts as required over its life. This facility provides Stobart with additional committed standby liquidity over the period of the business plan and provides greater funding flexibility.
The facility replaces the group’s existing credit facility as well as the overdrafts with its current banking providers. All asset finance on vehicles and equipment will remain in place.
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