Grafton signs new bank facilities for 'additional headroom'

19th May 2014 07:52

Builders merchanting and DIY group Grafton has signed new five-year revolving credit facilities with its banks.The new facilities, which total £460m, run to May 2019."The refinancing takes advantage of improved lending conditions and will lead to annualised finance charge savings based on current drawings of circa £3m per annum," Grafton said.The company said that the new funds will provide it with "additional headroom" as it continues to execute its growth strategy.BC