The Co-operative Group agrees new refinancing deal
The Co-operative Group has agreed a five-year Â£950 million refinancing deal.
The new senior debt facilities replace the existing facilities that were due to mature in 2013 and include a pre-agreed capacity to increase the facilities to £1 billion.
The Co-operative said the new finance package would enable it to continue to develop its growing range of trading businesses. The group operates 4,800 outlets in food, pharmacy, travel and banking and has an annual turnover of more than £13 billion.
The facilities were negotiated with a group of banks comprising Barclays, HSBC, Lloyds, Royal Bank of Scotland, Handelsbanken, and the Co-operative Bank.
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