Industrial fastenings firm Trifast has secured a £120m financing deal that will help it to create a national distribution centre in the Midlands.
Trifast has secured the new financing arrangements, in a deal led by HSBC UK, to enable it to grow organically and through acquisition and to support its export growth ambitions.
The new funding, backed by UK Export Finance (UKEF), takes the form of a £50m export development guarantee facility which enables a loan provided by HSBC UK, NatWest and Citi. The banking arrangement also involved a renegotiation of Trifast’s existing revolving credit facility, with the new three-year £70m facility split between HSBC UK, NatWest and Citi.