- Electronics distributor Electrocomponents has successfully completed the refinancing of its bank facilities with a group of eight existing and new relationship banks.

The new facilities will comprise a three-year revolving credit facility of £300 million with an option to increase this by a further £100 million.

The maturity of this facility may be extended at the option of the group for up to two further one-year terms subject to individual lender approval.

This facility replaces an existing facility of £189 million, with a maturity of August 2022, which will be cancelled. The new facility is on broadly similar terms to the prior one.

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