The facility will be used for general corporate purposes.
The new facility, which matures in May 2016, was over-subscribed by the syndicate of UBM’s core relationship banks, who all participated as mandated lead arrangers and bookrunners. The terms reflect current market conditions and there are no changes to the Group’s financial covenants.
Commenting on the refinancing, UBM’s Chief Financial Officer, Robert Gray said: "We are delighted that all of our leading relationship banks have participated in the renewal of our revolving credit facility, which is a central element of our liquidity and financing strategy. We have a great bank group with complementary skills and strengths, and we are pleased that they will continue to support UBM’s global operations and strategic development."
