The £135m refinancing deal, funded by Barclays, HSBC, and Royal Bank of Scotland shows PZ Cussons is still very much afloat in difficult economic conditions.
The FTSE 250-listed company PZ Cussons, a multinational company that supplies household goods and beauty products has been able to secure existing debt and is able to draw on additional funding to support their future growth plans.
Finance director at the firm Brandon Leigh commented: “The new facility secures medium-term funding for the Group in a period of economic uncertainty. The support of our banks is an endorsement of our strategy and illustrates both the strength of our balance sheet and the quality of our asset base.”
Dion Hirst, relationship director at Barclays Corporate Banking in Manchester was keen to emphasise the bank’s commitment to financing business in the UK: “This refinance is a good example of the type of strategic and sophisticated transactions we are supporting despite difficult market conditions.”
PZ Cussons won the Operations and Maintenance award at The Manufacturer of the Year Awards last year. To enter your company for this years awards, please visit the awards website.