McBride refinances banking facilities

9th Apr 2014 09:27

European household and personal care product maker McBride has completed a 205m-euro refinancing of the group's banking facilities. McBride, which makes private label detergent and other cleaning products for supermarkets and discount retailers, said the new arrangement includes €65m of loan notes issued in a US private placement, maturing in November 2020 and April 2022. It also includes a €140m revolving credit facility of five-year tenor.It replaces the current committed facility of €175m which was due to mature in June 2015. "The refinancing provides McBride with a robust funding platform on attractive terms from which to deliver the company's growth plans in the medium term," the group said. Shares rose 1.34% to 94.75p at 09:34 on Wednesday. RD