Refinancing of Group Lending Facilities
Summary by AI BETAClose X
7 April 2026
Lords Group Trading plc
('Lords', the 'Company' or the 'Group')
Refinancing of Group Lending Facilities
Lords (LORD.L), a leading distributor of building materials in the UK, is pleased to announce that it has completed the refinancing of the Group's existing £75 million lending facilities (the 'Refinancing').
The Group's existing £75 million lending facilities with a three bank syndicate consisted of a £50 million revolving credit facility ('RCF') and a £25 million receivables financing facility ('RFF') (together the 'Existing Facilities'), have been cancelled and repaid pursuant to the Refinancing with such repayment being funded by drawings under new £65 million facilities provided by HSBC and NatWest consisting of a £20 million RCF (the 'New RCF') and a £45 million RFF each with an initial three-year term (together, the 'New Facilities'). The Refinancing includes two uncommitted extension options of one year each which would, subject to lender approval, extend the tenor of the New RCF to four years and five years if exercised.
The New Facilities are more closely aligned with the Group's trading activities and demonstrate its diversified customer base and track record in converting receivables into cash. The Refinancing is expected to result in material interest cost savings for the Group over the life of the facilities.
Stuart Kilpatrick, Chief Financial Officer of Lords, said: "We are pleased to complete this Refinancing exercise and appreciate the support of our lenders, both with regard to the Existing Facilities and, in particular, look forward to continuing our strong relationship with HSBC and NatWest under the New Facilities."
- Ends -
FOR FURTHER ENQUIRIES:
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Lords Group Trading plc Shanker Patel, Chief Executive Officer Stuart Kilpatrick, Chief Financial Officer
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Via Burson Buchanan Tel: +44 (0) 20 7466 5000 |
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Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker) Ben Jeynes / Seamus Fricker (Corporate Finance) Julian Morse / Henry Nicol / Matt Lewis (Sales and ECM)
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Tel: +44 (0)20 7220 0500 |
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Berenberg (Joint Broker) Matthew Armitt / Harry Nicholas / Detlir Elezi
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Tel: +44 (0)20 3207 7800 |
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Burson Buchanan Henry Harrison-Topham / Steph Whitmore / Abby Gilchrist
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Tel: +44 (0) 20 7466 5000 |
Notes to Editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.
The Group operates through the following three divisions:
Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 33 locations in the UK.
Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 16 locations enabling nationwide next day delivery service.
Digital: CMO Superstores provides an online route to market from nine specialist websites for construction and plumbing & heating customers.
Lords was established 40 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 50 sites.
For additional information please visit www.lordsgrouptradingplc.co.uk
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