The pub operator and independent brewer’s new facility extends to March 2022 and consists of a £320m loan commitment with an incremental £40m accordion facility providing additional flexibility at improved terms.

The new facility will replace Marston’s existing £257.5m facility, which was due to expire in November 2018.

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"This new facility further improves the efficiency of our funding,” said Ralph Findlay, CEO of Marston’s.

“It provides the group with the certainty of long-term financing, while also taking advantage of current low interest rates, enabling Marston's to fulfil its future expansion plans in the most cost-effective way possible." 

Marston’s employs around 14,000 people and has an estate of 1,569 pubs situated nationally comprising managed, franchised and leased pubs.