No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Brickability Group announced the successful refinancing of its banking facilities on Tuesday, renewing 110m of funding on unchanged pricing as it extended its financing runway to support its growth strategy.
The AIM-traded distributor to the UK construction industry said it renewed a 60m revolving credit facility alongside a 50m term loan, replacing facilities that were due to mature in October 2026.
It said the new arrangements were provided by existing lenders HSBC and Barclays on a club basis.
The facilities were agreed for an initial three-year term and included two one-year extension options.
Brickability said the refinancing was completed on the same pricing as its existing facilities, signalling continued lender support despite challenging conditions in parts of the UK construction market.
The renewed facilities also included an accordion feature that would allow the group to increase total borrowing capacity by up to a further 40m, providing additional financial flexibility should it pursue further investment or acquisition opportunities.
At 0854 GMT, shares in Brickability Group were up 0.84% at 53.04p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.