U.K. industrial materials group, Cookson, has secured a £600 million five-year bank facility, Reuters reports. The new revolving credit facility will replace the company’s existing £511 million loan, which was scheduled to expire in October 2012. The materials science company intends to use the proceeds to repay drawings under Cookson’s existing facility and for general corporate purposes. The new facility, which will mature in April 2016, was over-subscribed by a syndicate of Cookson’s group of core relationship banks, adds IB Times.

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