UK: Britvic refinances debt facility

By | 14 April 2009

Britvic has completed the refinancing of its debt facility, the group has announced.

The UK-based soft drinks producer said today (14 April) that it has agreed a new six-bank debt facility, on a revolving multicurrency basis, of GBP283m (US$420m).

The facility, which will mature in May 2012, is slightly smaller than the GBP300m multicurrency facility that it replaces and which is set to mature in May 2010.

Until next May, however, Britvic will have access to an increased facility of GBP333m, said the firm, which owns the Robinsons and Fruit Shoot brands and the licence to PepsiCo drinks in the UK.

John Gibney, group finance director, said: "The successful conclusion to the refinancing is a reflection of our strong relationships with our banking partners and the confidence they have in our trading performance and our strong cash generation."

Britvic's committed debt facilities also consist of a "long-term" GBP229m sterling equivalent US private placement.  

Britvic's net revenue rose by 2% to GBP218.6m for the 12 weeks to 21 December, the firm said in January.

Sectors: Soft drinks, Water

Companies: PepsiCo

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