December 14 - UK port group, Peel Ports has successfully completed a GBP1.6 billion refinancing deal in order to fund its future growth plans.

Funding for the expansion project has been secured from a variety of banks and private investors - including GDP150 million from the European Investment Bank.

"We have refinanced our existing facilities, and created a diversified and flexible funding platform to support our growth strategy," explained Graeme Charnock, chief financial officer, Peel Ports Group.

The Port's development plans for 2013 include a GBP300 million investment in the construction of the deep-water container terminal, Liverpool2.

The new in-river terminal, due for completion in 2015, will see some of the world's largest container vessels able to call at the port.

www.peelports.co.uk

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