Travis Perkins signs £550m banking deal
Travis Perkins has signed a new £550m banking agreement with a syndicate of banks led by Barclays Corporate, Lloyds TSB Bank and The Royal Bank of Scotland.
The new forward start banking agreement will be available to the Northampton-based builders' merchant and home improvement retailer from April 2013.
The company's exiting £800m finance facility expires in December 2016 and provides Travis Perkins with "the bank funding it requires for the foreseeable future".
Travis Perkins said: "The new agreement will increase the Group's funding costs in line with changes that have occurred in the market since the last financing agreement was signed in 2008.
"As a result it is anticipated that the group will incur additional financing costs of around £4m in 2012."
