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On 25 March 2022, Maintel Holdings Plc announced a new refinancing agreement with HSBC UK for a £26m facility over a minimum 3-year term. This new facility comprises a £20m Revolving Credit Facility and a £6m Term Loan, replacing Maintel's previous 6-year banking partnership with NatWest Bank.
| Date | 25 Mar 2022 |
| Time | 07:00:05 |
| Category | Acquisitions and alliances |
| ID | 9708F |
Maintel Holdings Plc ("Maintel" or the "Company")
Refinancing Agreement with HSBC UK
Maintel Holdings Plc, a leading provider of cloud, network and security managed services, is pleased to announce a new refinancing agreement with HSBC UK for a £26m facility over a minimum 3-year term. This new facility with HSBC UK replaces a 6-year banking partnership with NatWest Bank.
The HSBC UK facility comprises of a £20m RCF and £6m Term Loan, both on more favourable terms.
Commenting on the new refinancing agreement, John Booth, Non-Executive Chairman of the Company said:
"We are delighted to have signed an agreement with HSBC UK for a minimum 3-year term, and look forward to working with our new banking partner as we progress our plans for continued organic growth and investment in new solutions and services.
I would like to thank finnCap and DLA Piper for their advice and guidance with the refinancing agreement and for their assistance in helping us to secure these much improved terms.
My thanks and appreciation go to NatWest Bank for supporting Maintel during the last 6 years, and in particular during the last two years through the pandemic".
For further information please contact:
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Ioan MacRae, Chief Executive Officer Dan Davies, Chief Technology Officer
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0344 871 1122 |
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finnCap (Nomad and Broker) |
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Alistair Hay / Krishan Raval (Debt Advisory) Jonny Franklin-Adams / Emily Watts / Kate Bannatyne (Corporate Finance) Richard Chambers / Sunila de Silva (Corporate Broking)
Oakley Advisory Limited Christian Maher |
020 7220 0500
020 7766 6900 |
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