Jarvis cuts cost of its debt by 0.75%

Good news from Jarvis: the group has announced new refinancing details and they represent a step in the right direction.

The juggling about with the money that Jarvis owes here and there has resulted in:

• a drop in the amount loaned
• a 0.75% cut in the cost of the outstanding debt.

Jarvis’s overall bank borrowing facilities will stand at £60m following the refinancing.

“It is phenomenally good news,” said a Jarvis spokeswoman, “especially in these current financial market conditions.”

Chairman Steven Norris said he was delighted.