By Jaime Llinares Taboada

Weir Group PLC said Wednesday that it has completed the refinancing of its main banking facility with a new credit line of $800 million.

The revolving credit facility will mature in April 2027, with an option to extend for up to a further two years.

The engineering company said the margin on the new facility is significantly lower than the previous one, which was agreed on during the early stages of the pandemic.

It replaces the existing $950 million revolving credit facility that was due to mature in June 2023.

All key terms remain unchanged, Weir said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

April 13, 2022 02:29 ET (06:29 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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