Slaughter and May advised Countrywide plc, the UK's largest integrated property services group, including the largest estate agency and lettings network, on an agreement to increase the amount of its current finance facilities from £100 million to £150 million. The increased finance facilities will provide finance for the general corporate purposes of the Countrywide group, including the funding of potential acquisitions.

The increased facilities, which were announced on 21 February 2014, comprise a £100 million term loan and £50 million revolving credit facility and are provided by Countrywide's current syndicate of banks: Abbey National Treasury Services plc, AIB Group (UK) p.l.c., Barclays Bank PLC, HSBC Bank plc, Lloyds Bank plc and National Westminster Bank Plc. The facilities will mature on 20 March 2017, with the first repayment of the term loan scheduled to be made in March 2015.

CONTACTS

Financing: Ed Fife (partner), Andrew Chaplin (associate)