FirstGroup Plc enhances its liquidity by £300 million through CCFF

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FirstGroup Plc enhances its liquidity by £300 million through CCFF

FirstGroup Plc (LON: FGP) has released its business and liquidity update in response to the COVID-19.

  • The company has reported that its liquidity has been further enhanced through £300 million issuance under UK government’s CCFF (Covid Corporate Financing Facility) scheme.
  • The company was presently having a committed headroom and free cash of around £800 million.
  • The company has also reported that its North American contract businesses were making continued progress in agreeing with revenue recovery.
  • The company has agreed for a triennial valuation with trustees of First Bus pension schemes, with lower overall deficit payments for the year to 31 March 2021.
  • On 24th April 2020, at the time of writing, GMT 08:51 AM, FGP shares were trading at GBX 61.20, up by 2.00 points or 3.38% against the previous day closing price.

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