International law firm Eversheds has advised Jerrold Holdings Limited, the secured lender to the residential and commercial property sectors, on arranging a £640m three-year banking facility to contribute towards funding its existing business and to provide a platform for its future growth.
The new facility, lead-arranged by RBS, National Australia Bank and Lloyds Banking Group, and supported by Co-operative Bank, extends the term of Jerrold’s current banking facilities by three years.
Jerrold Holdings is raising the new money through a combination of a £395m structured securitisation and a £245m syndicated Loan.
The Eversheds team was led by Partners Nigel Dale and David Boyd assisted by Senior Associate Simon Barrell and Associate Kate Baybutt.
Nigel commented:
“Jerrold is an established secured lender and it is a real pleasure to have, once again, advised them on the refinancing of their facilities, which are a testament to the strong business model which they deploy.”
Gary Beckett, Jerrold Holdings Finance Director, said:
“We are delighted to secure this new financing to allow us to further support our clients and customers and pursue the opportunities we see in the market. Once again Eversheds played a pivotal role working with the company and delivering a quality service to ensure that the financing was put in place.”
