Business
New Revolving Credit Facility for £40m agreed
New Revolving Credit Facility for £40m agreed.
About this update from Knights Group Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9856C Knights Group Holdings PLC 14 February 2020 \n\nKnights Group Holdings plc\n(\"Knights\" or the \"Company\")\nNew Revolving Credit Facility for £40m 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 HSBC UK and Allied Irish Bank (GB) (\"AIB (GB)\"). \nThe facility provides total committed funding of £40m until June 2023, split equally between HSBC UK and AIB (GB). It replaces the Group's existing £27m facility with AIB (GB) and is on improved terms. \nDavid Beech, CEO of Knights, commented: \n\"We are delighted to have agreed this new £40m facility with AIB (GB) and HSBC UK. This will provide us with additional flexibility to further grow our presence across the UK, both organically and through strategically compelling acquisitions, as we continue to enhance the strong growth platform we have developed in key legal markets outside of London.\"\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\n\n\n+44 20 7260 1000 \n\n\n\n\nMHP Communications (Media enquiries) \n\n\n\n\nAndrew Jaques, Katie Hunt, Rachel Mann\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's 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. It is focussed on key UK markets outside London and currently operates from ten offices located in Birmingham, Cheltenham, Chester, Derby, Leicester, Manchester, Oxford, Stoke, Wilmslow and York.\nHSBC UK\nHSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 65 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$...