TUI Travel PLC (TT.LN), the travel company, Wednesday announced that measures to address the ongoing funding and management of its pension schemes have now been finalized, adding that the agreement will bring total cash savings to the company of GBP38 million per annum.

MAIN FACTS:

-TUI also announced Wednesday that it has refinanced its banking facilities with the signing of new facilities totalling GBP1.16 billion.

-The new facilities have a four-year term and substantially extend TUI Travel's debt maturity profile.

-Shares at 1012 GMT down 1 pence, or 0.3%, at 243 pence valuing the company at GBP2.72 billion.

-By Peter Evans, Dow Jones Newswires; 44-20-7842-9308; peter.evans@dowjones.com

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