easyJet’s New five-year term loan facility

easyJet today announces the continued strengthening of its liquidity position with the signing of a new five-year term loan facility of $1.87 billion (c.£1.4bn) underwritten by a syndicate of banks and supported by a partial guarantee from UK Export Finance under their Export Development Guarantee scheme.  The Export Development Guarantee scheme for commercial loans is available to qualifying UK companies, does not carry preferential rates or require state aid approval, and contains some restrictive covenants including around dividend payments, however these are compatible with easyJet’s existing dividend policy.

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