Northgate drives off with new £428m syndicated loan

Northgate, the UK van hire firm, has refinanced its existing debt facilities in a new, single syndicated loan.

  • 30 Apr 2013
The new £428m committed credit line will replace the group’s existing high-coupon private placements, institutional loans and multi-bank facilities. A one-off charge of £54m will appear on the firm’s annual income statement linked to the refinancing, reflecting the costs of existing the legacy debt and hedging, and of ...

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