Ashtead extends and increases credit facility
Ashtead has increased its senior credit facility to $4.1 billion and extended the maturity to December 2023. The deal includes a slight reduction in cost keeping the average well under five percent, while other terms and conditions remain unchanged.
Chief executive Geoff Drabble said: "We are delighted with the support we have received from our bank group. It is a testament to the performance and strength of the group. This amended facility enhances the flexibility of our debt package and strengthens further the balance sheet which supports our long term strategy of responsible growth through a combination of organic investment and bolt on acquisitions."