Daily News: September 8, 2017

Yorkshire Bank Upsizes NAHL Facility to $33MM

NAHL Group, a UK-based marketing and services business focused consumer legal market, entered into new, increased banking facilities with Yorkshire Bank.

The new facility comprises a £25 million ($33 million) revolving credit facility which will be used to repay the current £9.4 million ($12.4 million) term loan and replace the existing £5 million ($6.5 million) revolver.

The new facility can be utilized for general business purposes, including working capital of the group and the payment of dividends. The facility will support the group’s long-term business strategy. The increased revolver meets the immediate needs of the group and provides sufficient headroom to allow the business to invest for growth and to fund investment in cases in the Personal Injury division.

The facility has a final maturity date of December, 31 2021.