RS Group PLC — Capital/Financing Update 2020

Nov 20, 2020

National Storage Mechanism | Additional information

RNS Number : 9460F

Electrocomponents PLC

20 November 2020

20 November 2020

Electrocomponents plc

Refinancing of Group Debt facilities

Electrocomponents plc (the 'Group') today announces that it 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 3-year Revolving Credit Facility ('RCF') of £300 million, with an accordion of up to 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.

This refinancing provides the Group with additional flexibility, extends the maturity of debt and reinforces Electrocomponents' strong financial position. In total, Electrocomponents now has £455.3 million of committed debt facilities and loans, excluding lease liabilities, of which £300 million are undrawn. This debt capacity excludes the £100 million liquidity buffer bank facility which has now been cancelled.

Enquiries:
David Egan	Chief Financial Officer	020 7239 8400
Lucy Sharma	VP Investor Relations	020 7239 8427
Martin Robinson / Olivia Peters	Tulchan Communications	020 7353 4200

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