CENTURION GROUP ANNOUNCES THE EXTENSION OF ITS REVOLVING CREDIT FACILITY
The facility size has increased by ~$60m and is available for acquisitions, capital expenditure and working capital funding. This takes the total committed facilities available to Centurion to ~$250m.
Aberdeen, UK, May, 2019 – Centurion Group (“Centurion” or “the Group”), a leader in the supply of critical rental, infrastructure and support services to the energy industries, is pleased to announce the successful extension of its revolving credit facility. The facility size has increased by ~$60m and is available for acquisitions, capital expenditure and working capital funding. This takes the total committed facilities available to Centurion to ~$250m.
The extension to the facility sees existing funders HSBC, ATB Financial increase their commitments and The Royal Bank of Scotland join the Group’s banking club. Centurion is funded through a seven bank club of HSBC, Wells Fargo, ATB Financial, Royal Bank of Scotland, Clydesdale Bank, Iberia Bank and Amegy Bank.
Euan Leask, CFO of Centurion, commented:
“We are pleased to increase our facilities with our existing bank group and welcome RBS into the banking club. This extension further strengthens the Group’s capital structure, ensuring Centurion is well positioned to execute its strategy with sufficient firepower to expand through highly selective, complementary acquisitions and capital investments. Centurion has a strong financial position with a robust balance sheet and strong cash flow.”
About Centurion Group
Centurion is a global leader in the supply of critical rental, infrastructure and support services to the energy industries. It combines the scale and the breadth of offerings via its global segments: AMS (Accommodation & Modular Solutions); DCP (Drilling, Completions and Production equipment) and INF (Infrastructure), with strong local presences in key energy service locations, Canada, America, UK & Europe, Caspian, Australia and South East Asia, to deliver value to customers around the world.
For more information, please visit www.centuriongroup.co.uk
For further information contact:
Martin Robinson / Elizabeth Snow / Marta Parry-Jones
+44(0) 207 353 4200
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