Knights Group Holdings PLC New Revolving Credit Facility for GBP60m agreed (8135Q)
01 November 2021 - 6:00PM
UK Regulatory
TIDMKGH
RNS Number : 8135Q
Knights Group Holdings PLC
01 November 2021
Knights Group Holdings plc
("Knights" or the "Company")
New Revolving Credit Facility for GBP60m agreed
Knights, one of the UK's fastest growing legal and professional
services businesses, is pleased to announce that it has agreed a
new extended revolving credit facility with HSBC UK, Allied Irish
Bank (GB) ("AIB (GB)") and Lloyds Bank.
The facility provides total committed funding of GBP60m until
October 2024, split equally between HSBC UK, AIB (GB) and Lloyds
Bank. It replaces the Group's existing GBP40m facility with HSBC UK
and AIB (GB) with the three bank club providing increased
flexibility to the Group at effectively the same interest cost to
the Company."
David Beech, CEO of Knights, commented:
" We are delighted to have agreed this new GBP60m facility with
AIB (GB), Lloyds Bank and HSBC UK. The facility will provide us
with additional headroom to build upon the critical mass achieved
this year, continue to scale our business across the UK organically
and through selected acquisitions, and execute our strategy to
become the leading legal and professional services business outside
London."
Ends
Enquiries
Knights
David Beech, CEO Via MHP Communications
Numis (Nomad and Broker)
Stuart Skinner, Kevin Cruickshank 020 7260 1000
MHP Communications (Media enquiries)
Andrew Jaques, Katie Hunt, Rachel 020 3128 8100
Mann
07585 301464
knights@mhpc.com
Notes to Editors
Knights is a fast-growing, legal and professional services
business, ranked within the UK's top 50 largest law firms by
revenue. Knights was one of the first law firms in the UK to move
from the traditional partnership model to a corporate structure in
2012 and has since grown rapidly. Knights has specialists in all
key areas of corporate and commercial law so that it can offer
end-to-end support to businesses of all sizes and in all sectors.
It is focussed on key UK markets outside London and currently
operates from 16 offices located in Birmingham, Cheltenham,
Chester, Crawley, Exeter, Leeds, Leicester, Maidstone, Manchester,
Nottingham, Oxford, Sheffield, Stoke, Weybridge, Wilmslow and
York.
Lloyds Bank
Lloyds Bank Commercial Banking provides comprehensive expert
financial services for small businesses, mid-sized businesses and
multinational corporations. Maintaining a network of relationship
teams across the UK, as well as internationally, Lloyds Bank
Commercial Banking delivers the mix of local understanding and
global expertise necessary to provide long-term support to its
clients. Lloyds Bank Commercial Banking offers a broad range of
finance beyond term lending and this spans import and export trade
finance, structured and asset finance, securitisation facilities
and capital market funding. Its product specialists provide bespoke
financial services and solutions, including tailored cash
management, international trade, treasury and risk management
services.
HSBC UK Bank
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. HSBC serves customers worldwide from
offices in 65 countries and territories in our geographical
regions: Europe, Asia, North America, Latin America, and Middle
East and North Africa. With assets of US$2,728bn at 30 September
2019, HSBC is one of the world's largest banking and financial
services organisations.
Allied Irish Bank (GB) is a niche, sector focused business bank
which specialises in delivering relationship driven service to
medium to large sized businesses
The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB)
Savings Direct are trade marks used under licence by AIB Group (UK)
plc. incorporated in Northern Ireland. Registered Office 92 Ann
Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by
the Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority .
For further information on Allied Irish Bank (GB), visit
aibgb.co.uk
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END
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