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18.09.2014

Speedy secures new funding

UK based rental group Speedy has completed the refinancing of its funding arrangements that were due to mature in August 2015.

The company has secured a new lower cost, £180 million five year asset-based revolving facility, with an agreement in place to support additional funding requirements in the future.

Chief executive Mark Rogerson said: "We are delighted to have concluded this refinancing ahead of schedule and on improved terms, reflecting our bankers' confidence in the business. Alongside our ongoing focus on cash generation, the new facility will provide us with the flexibility to support our strategy for growth."

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