Britvic boosted by refinancing

Shares in Britvic climbed 5% today after the soft drinks firm said it had secured new banking facilities through to May 2012.

The Chelmsford-based company, which includes Robinsons squash and Fruit Shoot in its portfolio, has agreed a new six-bank facility worth £283m (€317m), replacing a £300m (€336m) arrangement due to mature in May 2010.

Prior to the commencement of the new facility, which is effective from May 2010, Britvic will have access to increased bank facilities of £333m (€373m).

Finance director John Gibney said the refinancing reflected the company’s strong relationship with its banks “and the confidence they have in our trading performance and our strong cash generation”.

Details of fees attached to the new facility were not disclosed in today’s update.

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