Pub operator secures new bank facility

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.

"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.