Back to previous section

Manolete Partners secures new revolving credit facility

Manolete Partners announced on Friday that it has secured a new £17.5m revolving credit facility with HSBC UK, maintaining the same borrowing capacity as its previous arrangement but on improved terms.

  • Manolete Partners
  • 28 March 2025 14:14:12
Manolete Partners

Source: Sharecast

The AIM-traded firm said the margin over SONIA was reduced from 4.7% to 4.0%, while the non-utilisation fee had been lowered from 1.88% to 1.40%.

It said the facility had an initial maturity date of 27 June 2028, and included an option for a one-year extension on the same terms.

While most covenants remained unchanged, the asset cover covenant had been temporarily relaxed for a six-month period.

Manolete said the revised terms would provide it with improved flexibility and cost efficiency as it continued to finance insolvency litigation cases across the UK.

“We are delighted to have secured a new long-term commitment to the business from HSBC, which is testament to the strong partnership we have established since 2018,” said chief executive officer Steven Cooklin.

“The improved terms of the facility demonstrate confidence in the Manolete business.”

At 1100 GMT, shares in Manolete Partners were flat at 80p.

Reporting by Josh White for Sharecast.com.

N/A

Isin: N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Lloyds Bank is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Lloyds and Lloyds Bank are trading names of Halifax Share Dealing Limited. The Lloyds Bank Direct Investments Service is operated by Halifax Share Dealing Limited. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England and Wales no. 3195646. Halifax Share Dealing Limited is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2025 Refinitiv, an LSEG business. All rights reserved.