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SigmaRoc secures EUR 825m refinancing facility
(Sharecast News) - SigmaRoc said on Tuesday that it has secured a new €825m refinancing facility to support future growth and acquisitions, strengthening its capital structure and reducing funding costs. The AIM-traded lime and minerals group announced it had signed and closed an agreement to refinance its principal banking arrangements through a five-year revolving credit facility, structured on an unsecured basis.
It said the facility included an additional €300m uncommitted accordion option, providing further financial flexibility.
The company said the refinancing delivered improved terms, including a margin reduction of 100 basis points over Euribor across all pricing brackets, alongside more flexible covenant arrangements.
It said the facility was intended to support both the existing business and future acquisition activity.
Chief financial officer Jan van Beek said the agreement enhanced SigmaRoc's financial position and growth capacity.
"We are delighted to have secured this facility with a consortium of leading banks.
"The offer was oversubscribed and adds to SigmaRoc's ability to grow its business, lowers funding costs, allows flexibility in decision-making and ultimately, simplifies the capital structure of the group."
At 1315 BST, shares in SigmaRoc were up 0.34% at 117p.
Reporting by Josh White for Sharecast.com.
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