Business
New Revolving Credit Facility for £27m agreed
New Revolving Credit Facility for £27m agreed.
About this update from Knights Group Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2548U Knights Group Holdings PLC 28 March 2019 \n\nKnights Group Holdings plc\n(\"Knights\" or the \"Company\")\nNew Revolving Credit Facility for £27m agreed \nKnights, one of the UK's fastest growing legal and professional services businesses, is pleased to announce that it has agreed a new extended revolving credit facility with Allied Irish Bank (GB) (\"AIB (GB)\"). \nThe facility provides total committed funding of £27m until June 2023. It replaces the Group's existing £18m facility with AIB (GB) and is on improved terms. \nDavid Beech, CEO of Knights, commented: \n\"We are delighted to have agreed this new, increased facility with AIB (GB) which gives us increased flexibility and additional headroom in our facility to execute our strategy. We look forward to continuing to develop the business both organically and through the selective acquisition of high calibre firms which enhance our expertise and geographical presence outside London and drive shareholder value.\"\nMike Rogers, Head of the Manchester Business Centre at AIB (GB) said: \n\"We are delighted to continue our relationship with Knights and to provide increased facilities to assist their business's growth and acquisition strategy. We have worked with the management team for over five years and look forward to strengthening our relationship further as we support them in this exciting period of expansion.\"\nEnds\nEnquiries \n\n\n\nKnights\n\n\n\n\nDavid Beech, CEO \n\n\nvia MHP Communications\n\n\n\n\nNumis (Nominated Adviser and Broker) \n\n\n\n\nStuart Skinner, Kevin Cruickshank, Michael Burke\n\n\n+44 20 7260 1000 \n\n\n\n\nMHP Communications (Media enquiries) \n\n\n\n\nAndrew Jaques, Katie Hunt, Kelsey Traynor\n\n\n+44 20 3128 8100\[email protected] \n\n\n\n \n\n\n \nNotes to Editors\nKnights is a fast-growing, legal and professional services business, ranked within the UK top 100 largest law firms by revenue. Knights was one of the first law firms in the UK to move from the traditional partnership model to a corporate structure in 2012 and has since grown rapidly. Knights has specialists in all of the key areas of corporate and commercial law so that it can offer end-to-end support to businesses of all sizes and in all sectors. The Company's main focus is on the UK's secondary markets, offeri...