Castelnau Group has secured a £65 million revolving loan facility from Shawbrook.
The listed closed-ended investment company, managed by Phoenix Asset Management Partners, backs small- to mid-cap private companies.
It will refinance its existing debt with the deal. The day-one drawdown totalled over 90% of the facility.
Shawbrook’s speciality and fund finance team delivered a record £65m three-year revolving credit facility which had the largest initial draw for a new client to date. The solution, secured against the portfolio’s net asset value, has enabled Castelnau to reduce costs and optimise their capital structure for future opportunities.
Richard Brown, CEO of Castelnau Group, commented: “We are extremely pleased to have secured this facility from Shawbrook, which doesn’t just reduce our ongoing costs, but helps to normalise our capital structure.
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“Throughout the process, Ismail and the team at Shawbrook distinguished themselves by being pragmatic, commercial, and highly responsive – a partnership approach that sets them apart from traditional banking peers and delivered a great outcome for all parties involved.
“We look forward to broadening our commercial relationship with Shawbrook going forward.”
Ismail Farhat, director, speciality and fund finance at Shawbrook, said: “Castelnau’s strong business model and track record gave us the confidence to structure a flexible facility for this dynamic investment company.
“We look forward to partnering with Castelnau’s management team as they strengthen operations and pursue further growth.”