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BRIEF-Brink’S Secures Additional Term Loan Financing Of $590 Million

Published 2020-03-27, 08:38 a/m
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Brinks Co BCO.N :

* BRINK'S SECURES ADDITIONAL TERM LOAN FINANCING OF $590 MILLION

* SAYS EXPECTED TO INCREASE LIQUIDITY TO APPROXIMATELY $1.5 BILLION UPON CLOSING

* SAYS HAS NO LONG-TERM DEBT MATURITIES UNTIL 2024.

* SAYS UPON COMPLETION OF G4S (CSE:G4S) ACQUISITION IT EXPECTS TO HAVE AVAILABLE LIQUIDITY OF APPROXIMATELY $800 MILLION

* HAS WITHDRAWN ITS 2020 GUIDANCE AND PLANS TO PROVIDE AN UPDATE ON BUSINESS CONDITIONS WHEN IT RELEASES FIRST-QUARTER 2020 RESULTS

* TAKING ACTION TO REDUCE DIRECT, VARIABLE COSTS IN RESPONSE TO TEMPORARY NEAR-TERM REVENUE DECLINES RELATED TO COVID-19

* SUBSTANTIALLY REDUCING CAPITAL EXPENDITURES AND CLOSELY MANAGING WORKING CAPITAL TO MAXIMIZE FREE CASH FLOW

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