Imperial Tobacco signs new RCF, no plans for drawdown

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By Mike Turner
31 Mar 2020

The UK's Imperial Brands, formerly Imperial Tobacco, has signed a new €3.5bn three year multi-currency revolving credit facility, slightly increasing its main bank line, despite not having plans to draw down.

"We don't tend to draw on our main core bank facility as we access other financing markets to keep the facility general undrawn," a treasury spokesperson told GlobalCapital. The company has not drawn any of the facility as of March 31.

Many more companies than usual have been drawing ...

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