Babcock International fully draws £775 million revolver due 2024

By Wendy Van Sickle

Columbus, Ohio, April 6 – Babcock International Group plc has fully drawn its £775 million revolving credit facility in light of the uncertainty surround the Covid-19 pandemic, according to a news release.

The revolver expires in August 2024.

The group said it had “a significant cash balance” at March 31 and has substantial liquidity for the next financial year.

Including the £775 million revolver, Babcock said it had access to around £2.4 billion of borrowing facilities of mostly long-term maturities.

London-based Babcock provides support services to military and civilian customers.

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