Pets at Home unveils £260m credit facility

15th Apr 2015 08:54

Pets at Home Group, a retailer of pet-related products and services, announced on Wednesday a five-year £260m revolving credit facility.The credit line replaces a previous £325m of drawn facilities and is expected to reduce its net financing expense by £2.7m per annum.The difference between the two facilities will be settled from the group's cash resources, which will results in an exceptional charge of £4.3m in 2016.Shares in Pets at Home fell 0.72% to 261.61p on Wednesday at 09:05.