The three-year agreement, which comprises a 拢40m revolving credit facility and 拢20m asset finance line, provides Murphy with the financial support for its ongoing workload.
The bank began supporting Murphy in 2018 and has since refinanced it with a further three-year investment, reaffirming its commitment to the wider infrastructure sector.
Murphy chief financial officer David Burke said: 鈥淚nfrastructure continues to be a jewel in the crown of UK construction, offering longer-term stability and healthy levels of investment, but given the current challenging climate, it still needs all the support it can get going forward.
鈥淭he team at Lloyds Bank has taken the time to get to know us as a business and has been supportive and open when it comes to discussing future opportunities.
鈥淲e have continued to win contracts and new clients during the first half of 2019. This partnership will help us to continue to deliver and provides us with the confidence and flexibility to invest in world-class assets, grow our business in the appropriate way and support our approach to rigorously manage our balance sheet.鈥�
Lloyds Bank Commercial Banking relationship director Steven Kew said: 鈥淢urphy continues to be at the forefront of some of the UK鈥檚 most exciting infrastructure projects and this investment will enable them to power on. 聽We pride ourselves on providing our clients with more than just capital. This partnership will give Murphy added reassurance to continue developing its offering for its expanding customer base. We鈥檙e looking forward to working alongside the Murphy team and supporting them as they take the next step in their growth journey.鈥�
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