Castore announces that it has successfully raised new debt facilities

Castore, the fast growth premium British sportswear brand, today announces that it has successfully raised new debt facilities.

The new £50,000,000 secured revolving credit facility (“RCF”) has an initial maturity of three years and is provided by a club of three banks. Castore has the ability to extend the facility by an additional year and increase the RCF to £75,000,000.

The new RCF will:
• give Castore additional levels of liquidity to further support the Group’s strategic growth ambitions;
• lengthen the maturity of its committed debt facilities, enhancing Castore’s financial flexibility; and
• broaden its banking partners by establishing relationships with BNP Paribas, HSBC UK Bank plc and Silicon Valley Bank UK

Castore was advised by Rothschild & Co on its refinancing, Addleshaw Goddard LLP acted for the Company and Eversheds Sutherland LLP for the Lenders.

Tom Beahon, Castore co-founder, said: “We are delighted to have successfully raised new debt facilities with three global banking partners. The increased facility is a strong endorsement of Castore’s exceptional performance in recent years, as well as our business model and strategy. The additional liquidity will allow us to further accelerate and internationalise our growth trajectory as we continue to build Castore into the leading premium sportswear brand in the world.”

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