Castore announces new £50 million debt facility

Premium British sportswear brand Castore has announced that it has secured a £50 million revolving credit facility (RCF).

The new RCF has an initial maturity of three years and is provided by BNP Paribas, HSBC UK Bank plc and Silicon Valley Bank UK. In addition, Castore has the ability to extend the facility by an additional year and increase the RCF to £75 million.

The new RCF will give Castore additional levels of liquidity to further support the Group's strategic growth ambitions and lengthen the maturity of its committed debt facilities, enhancing Castore's financial flexibility.

The new facility will also enable the company to broaden its banking partners by establishing relationships with the three banks.

Commenting on the news, Thomas Beahon, Castore's 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."

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

Listen to our podcast with Thomas Beahon, Co-Founder of Castore.