Imperial Brands PLC New Revolving Credit Facility/Trading Update (1802I)
31 Marzo 2020 - 8:00AM
UK Regulatory
TIDMIMB
RNS Number : 1802I
Imperial Brands PLC
31 March 2020
IMPERIAL BRANDS PLC
31 March 2020
Imperial Brands Signs New EUR3.5billion Revolving Credit
Facility
Imperial Brands PLC ("Imperial") is pleased to announce a new
EUR3.5 billion (GBP3.1 billion) multi-currency revolving credit
facility (RCF). The new facility was coordinated by NatWest,
Santander and SMBC and is provided by a syndicate of 20 banks. It
provides the business with committed bank financing until March
2023 and replaces the existing c. GBP3 billion RCF.
The RCF has a maturity structure that brings benefits to both
Imperial and our lenders, with an initial 3---year term and
rolling, automatic, bi-annual extensions. The RCF is currently
undrawn and underpins the liquidity position of the business. Our
outstanding bonds have a staggered maturity profile out to 2032
with limited maturities falling due in any one year.
COVID-19 and Current Trading
Although the economic and social impact of COVID-19 is
developing rapidly, there has been no material impact on Group
performance to date and current trading remains in-line with
expectations.
Our primary focus is to protect the health, safety and
well-being of our employees. Our operations benefit from a
diversified supply chain and factory footprint, which is
prioritising the manufacture of major product lines to build
contingency stocks. Our distribution business, Logista, which
serves Italy, France and Spain has increased the levels of finished
goods stock in its regional distribution hubs and continues to
deliver product to retailers.
ENDS
Investor Contacts Media Contacts
+44 (0)7970 328 +44 (0)7967 467
Peter Durman 903 Alex Parsons 241
+44 (0)7964 110 +44 (0)7967 467
Matt Sharff 921 Simon Evans 684
+44 (0)7581 052
James King 880
Treasury Contacts
+44 (0)7967 467
John Jones 061
Cautionary Statement
Certain statements in this announcement constitute or may
constitute forward-looking statements. Any statement in this
announcement that is not a statement of historical fact including,
without limitation, those regarding the Company's future
expectations, operations, financial performance, financial
condition and business is or may be a forward-looking statement.
Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected or implied in any forward-looking statement.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
These and other factors could adversely affect the outcome and
financial effects of the plans and events described in this
announcement. As a result, you are cautioned not to place any
reliance on such forward-looking statements. The forward-looking
statements reflect knowledge and information available at the date
of this announcement and the Company undertakes no obligation to
update its view of such risks and uncertainties or to update the
forward-looking statements contained herein. Nothing in this
announcement should be construed as a profit forecast or profit
estimate and no statement in this announcement should be
interpreted to mean that the future earnings per share of the
Company for current or future financial years will necessarily
match or exceed the historical or published earnings per share of
the Company. This announcement has been prepared for, and only for
the members of the Company, as a body, and no other persons. The
Company, its Directors, employees, agents or advisers do not accept
or assume responsibility to any other person to whom this
announcement is shown or into whose hands it may come and any such
responsibility or liability is expressly disclaimed.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
UPDSDASIFESSEFD
(END) Dow Jones Newswires
March 31, 2020 02:00 ET (06:00 GMT)
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