Imperial Brands Signs New €3.5billion Revolving Credit Facility
Imperial Brands PLC (“Imperial”) is pleased to announce a new €3.5 billion (£3.1 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.£3 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.
| Investor Contacts | Media Contacts | ||
| Peter Durman | +44 (0)7970 328 903 | Alex Parsons | +44 (0)7967 467 241 |
| Matt Sharff | +44 (0)7964 110 921 | Simon Evans | +44 (0)7967 467 684 |
| James King | +44 (0)7581 052 880 | ||
| Treasury Contacts | |||
| John Jones | +44 (0)7967 467 061 |
