Weir Group refis loans but banks demand higher margin

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By Mike Turner
30 Jun 2020

Weir Group, the UK engineering company, has signed bank lines totalling $1.19bn, but amid coronavirus-related market volatility, banks required a higher margin than on the deal being refinanced.

The new facilities are split between a $950m three year revolving credit facility, with the option to extend by two years, and a £200m term loan that will mature in March 2022. 

The margin on the new RCF is “a touch higher” than the revolver being replaced, according to ...

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