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  "authorName": "Melrose Industries PLC",
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  "presentationDate": "2023-03-01 00:00:00",
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      "kind": "paragraph",
      "text": "Both facilities' terms based on tried and tested Melrose facility",
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      "text": "1. Comprises the Automotive, Powder Metallurgy and Hydrogen businesses\n2. FX rates used for translating amounts into GBP are 1.21 for GBPUSD and 1.13 for GBPEUR\n3. 3 year facility can be extended for two one-year periods at the company's option",
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      "text": "Melrose Bank Facilities: c. £1.55bn² multi-currency unsecured facility, Guaranteed by various group companies, 3 year Term loan (US$300m, €100m), 3 year RCF (US$250m), 3-5 year RCF³ (US$550m, €300m, £300m), Opening margin on drawn debt (130bps, 130bps, 155bps), Financial covenants (Leverage Max 3.5x, Interest cover Min 4.0x). Dowlais¹ Bank Facilities: c. £1.8bn² multi-currency unsecured facility, Guaranteed by various group companies, 3 year Term loan (US$400m, €100m, £100m), 3-5 year RCF³ (US$660m, €450m, £350m), Opening margin on drawn debt (140bps, 160bps), Financial covenants (Leverage Max 3.5x, Interest cover Min 4.0x).",
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      "kind": "title",
      "text": "New bank facilities",
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