New Revolving Credit Facility with HSBC Bank

About this update from Manolete Partners Plc

28 March 2025     Manolete Partners PLC ("Manolete" or the "Company")   New Revolving Credit Facility with HSBC Bank Manolete Partners Plc (AIM:MANO), the leading UK-listed insolvency litigation financing company, is pleased to announce it has signed a new Revolving Credit Facility ("RCF") with its existing provider, HSBC UK Bank Plc ( "HSBC").   The new RCF provides Manolete with the same level of facility as the previous arrangement, at £17.5m. However, the margin charged to Manolete by HSBC on the new RCF is at a reduced rate of 4.0% (previously 4.7%) over the Sterling Overnight Index Average (SONIA) and has a reduced non-utilisation fee, from 1.88% to 1.40%. The new RCF is a 3.25-year facility with an initial maturity of 27 June 2028. Manolete has the option to further extend the facility on its current terms by an additional year. The covenants remain unchanged except for the Asset Cover covenant which has been relaxed for the next six months.   Steven Cooklin, CEO commented: "We are delighted to have secured a new long-term commitment to the business from HSBC, which is testament to the strong partnership we have established since 2018. The improved terms of the facility demonstrate confidence in the Manolete business."     This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").   For further information please contact:   Manolete Partners Steven Cooklin (Chief Executive Officer)              via Instinctif Partners   Canaccord (NOMAD and Sole Broker)               +44 (0)20 7523 8000 Stuart Andrews, Harry Rees   Instinctif Partners (Financial PR)                        +44 (0)20 7457 2020 Hannah Scott   Cavendish (Debt Advisor)                                   +44 (0)20 7908 6037 Alistair Hay Rosie Pennell

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