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Peel Ports secures funding

[ August 23, 2013   //   ]

Peel Ports has completed refinancing of some of its bank facilities. Three specialist infrastructure investors – Westbourne, IFM and AXA – have provided funds which have allowed £152.5m of debt to be refinanced. The debt is in the form of eight-year loans and refinances portions of three-year debt raised by Peel Ports in the December 2012 refinancing. Peel Ports Group’s chief financial officer Graeme Charnock said he was delighted at the response: “The new funding further diversifies the investor base at the same time as extending the maturity profile of our debt.”