Survitec receives £27.5m revolving credit facility from Santander UK
Global survival and safety solutions firm, Survitec, announced today that it has completed a £27.5m Super Senior Revolving Capital Facility (RCF) with Santander UK.
This new facility is in addition to the recently finalised £270m refinancing announced by the company in April. Both agreements support Survitec’s growth plans for its survival technology products and services.
The new RCF is complemented by a foreign exchange facility, which is also provided by Santander UK.
Ray Leclercq, Survitec’s Chief Financial Officer said: “This transaction is a demonstration of confidence by one of the UK’s leading banks in Survitec’s business, our growth plans and our ability to execute those plans. This complements other key 2021 Survitec milestones, including completion of a £270m refinancing and the acquisition of Hansen Protection.”
Commenting on the new RCF transaction, Chris Thomas, Director, Structured Finance, Santander UK said: “Survitec is a global leader in the survival and safety solutions markets. We are delighted to provide funding to support the next important phase of its growth strategy.”