Business
New Revolving Credit Facility for £60m agreed
New Revolving Credit Facility for £60m agreed.
About this update from Knights Group Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8135Q\n Knights Group Holdings PLC\n 01 November 2021\n \n \n \n \n Knights Group Holdings plc\n \n \n (\"Knights\" or the \"Company\")\n \n \n New Revolving Credit Facility for £60m agreed\n \n \n Knights, one of\n the UK's fastest growing legal and professional services businesses,\n is pleased to announce that it has agreed a new extended revolving credit facility with HSBC UK, Allied Irish Bank (GB) (\"AIB (GB)\") and Lloyds Bank. \n \n \n The facility provides total committed funding of £60m until October 2024, split equally between HSBC UK, AIB (GB) and Lloyds Bank. It replaces the Group's existing £40m facility with HSBC UK and AIB (GB) with the three bank club providing increased flexibility to the Group \n at effectively the same interest cost to the Company.\"\n \n \n \n David Beech, CEO of Knights, commented:\n \n \n \n \n \"\n We are delighted to have agreed this new £60m facility with AIB (GB), Lloyds Bank and HSBC UK. The facility will provide us with additional headroom to build upon the critical mass achieved this year, continue to scale our business across the UK organically and through selected acquisitions, and execute our strategy to become the leading legal and professional services business outside London.\"\n \n \n \n \n \n Ends\n \n \n Enquiries \n \n \n \n \n \n \n Knights\n \n \n \n \n \n \n \n \n \n David Beech, CEO\n \n \n \n \n Via MHP Communications\n \n \n \n \n \n \n Numis (Nomad and Broker)\n \n \n \n \n \n \n \n \n \n Stuart Skinner, Kevin Cruickshank\n \n \n \n \n 020 7260 1000\n \n \n \n \n \n \n MHP Communications (Media enquiries) \n \n \n \n \n \n \n \n \n \n Andrew Jaques, Katie Hunt, Rachel Mann\n \n \n \n \n 020 3128 8100\n07585 301464\[email protected]\n \n \n \n \n \n \n \n \n \n Notes to Editors\n \n \n Knights is a fast-growing, legal and professional services business, ranked within the UK's top 50 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 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 operat...