TUI agrees new bank credit facility
TUI Travel has signed a new £1.4 billion bank credit facility.
The travel giant said the arrangement was oversubscribed, which demonstrates its "continued strong backing from relationship banks" and "underpins its debt maturity profile".
It said the arrangement, which matures in June 2018, gives it "valuable flexibility in respect of its other debt facilities and upcoming maturities".
"We appreciate the continued strong support from our relationship banks," added chief financial officer Will Waggott.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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