Greene King renews £400m credit deal

Belhaven-owner Greene King has agreed a new five-year, £400 million bank funding deal, which will run from this month. The brewing and pubs group said the "revolving credit facility" replaced an existing £400m deal, which was due to expire in April of next year.

Greene King said the new facility, which will cost it an extra 2.5m in annual interest, provided it with "continued financial flexibility", adding that it would help underpin the "delivery of our retail expansion and overall growth strategy".