Gateley Secures £80m Revolving Credit Facility to Support Growth
Why we think this is good
Gateley has secured a new £80m revolving credit facility, which is a positive development that will provide the company with increased financial flexibility and capacity to support its growth strategy. The facility has improved terms compared to the previous £30m facility and is split equally between four major banks, indicating strong support from the company's lenders. This will allow Gateley to continue with its plans to grow organically and through acquisitions, further diversifying the group's business.
Key Points
- New £80m revolving credit facility agreed
- Facility replaces existing £30m facility
- Improved terms and conditions compared to previous facility
- Facility split equally between Bank of Scotland, HSBC UK, Barclays and NatWest
- Facility will support Gateley's organic and acquisition-led growth strategy
Summary
Gateley (Holdings) Plc has agreed a new £80m revolving credit facility to support the company's growth strategy. The facility, which replaces the group's existing £30m facility, provides total committed funding until April 2028 with options to extend to April 2030. The new facility features improved terms and conditions compared to the previous facility and was coordinated by Bank of Scotland, with participation from HSBC UK, Barclays and NatWest. The additional headroom and flexibility will allow Gateley to continue with its stated strategy to grow organically and through acquisitions, further diversifying the group's business.