Harworth Group signs new £200 million senior revolving facility

Chicago, March 15 – Harworth Group plc signed a new £200 million revolving credit facility, according to an announcement.

There is a £40 million uncommitted accordion option.

The revolver is provided by Natwest, Santander and HSBC.

Interest is based on Sonia plus a range of 225 basis points to 250 bps.

Proceeds will be used to help Harworth double the size of its business over the next five to seven years and provides significant additional liquidity and flexibility.

The facility replaces the company’s earlier facility which had started at £130 million and then was increased to £150 million and carried a February 2024 expiration date.

Harworth is a sustainable regenerator of land property for development and investment. The head office is in Rotherham, England.

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