Refinancing of Banking Facilities
NAHL, the leading marketing and services business focused on the UK consumer legal market, is pleased to announce that it has entered into new, increased banking facilities with Yorkshire Bank (the “Facility”).
The new Facility comprises a £25.0m Revolving Credit Facility (“RCF”) which will be used to repay the current £9.4m Term Loan and replace the existing £5.0m RCF. The new Facility can be utilised for general business purposes, including working capital of the Group and the payment of dividends. The Facility will support the Group’s long-term business strategy. The increased RCF meets the immediate needs of the Group as well as providing sufficient headroom to allow the business to invest for growth and to fund investment in cases in the Personal Injury division.
The Facility has a final maturity date of 31 December 2021.