The bank, which acted as sole coordinator, agent, and a Tier 1 lender on the deal, said the refinancing “extends the maturity profile” of Balfour Beatty’s core liquidity facility and “will support the group as it continues to deliver the complex, critical infrastructure that keeps economies moving and communities connected”. 

The facility ranks among the largest debt financings ever recorded for a UK company in its category. The deal is meant to help Balfour deliver more complex, critical infrastructure across its markets.

Lloyds and Balfour Beatty have worked together for more than 40 years. The bank said it is committed to backing the contractor’s ambitions across energy, defence, and transport in the UK, plus buildings work in the US.

“Balfour Beatty plays a vital role in delivering the infrastructure that underpins economic growth across its core markets,” Max Jones, head of construction, infrastructure and transport coverage at Lloyds Bank shared in a LinkedIn post.

He added the bank was “proud to continue our longstanding relationship.”