Eversheds Sutherland advises Harworth Group plc on £275m revolving credit facility

"Eversheds Sutherland advised Harworth Group plc on a new £275m revolving credit facility (RCF) with an uncommitted accordion to £325m. The facility carries a 200bp margin over SONIA, has an initial four-year term extendable to five, replaces a £240m facility and extends Harworth’s debt maturity by about 2.5 years. Lenders include NatWest, Santander and HSBC."

Eversheds Sutherland advised Harworth Group plc on its new £275 million revolving credit facility, with a lender syndicate comprising NatWest, Santander and HSBC. The transaction comprises a £275 million RCF with an uncommitted accordion option that, if exercised, would increase capacity to £325 million. The facility carries an improved core margin of 200 basis points over SONIA and has an initial four-year term, which Harworth may extend to a maximum of five years at its request subject to bank consent. The new facility replaces Harworth’s existing £240 million facility and extends the Group’s debt maturity by approximately 2.5 years. The syndicate comprises Harworth’s existing relationship banks and includes the option to add further lenders. Eversheds Sutherland represented client Harworth Group plc with a team composed by: Partner Paul Castle; Principal Associate Josh Walker; Associate Jasmine Greenwood.

Eversheds Sutherland advises Harworth Group plc on £275m revolving credit facility

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