Refinancing Agreement with HSBC UK

RNS Number : 9708F

Maintel Holdings PLC

25 March 2022

 

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:

Ioan MacRae, Chief Executive Officer Dan Davies, Chief Technology Officer	0344 871 1122
finnCap (Nomad and Broker)
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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