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Grainger seeking to refinance £1bn
Grainger has reported net debt of £1042m and a consolidated LTV of 46%, both figures practically unchanged from the previous period, for the half year to 31 March 2015. The average interest rate was 5.1% and was achieved with new interest rate swaps made during the period, the breaking of a legacy swap and the drawdown of £26m of low cost government funding. Undrawn facilities and cash amounted to £242m.
