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Wragge & Co Banking team advises on multimillion pound refinancing deal

22 Nov 2013

Wragge & Co's Banking and Finance team has advised Norton Finance group on a £30 million refinancing deal with The Royal Bank of Scotland plc. In addition to refinancing its existing facilities with another lender, the transaction will allow Norton Finance to expand its first and second charge mortgage lending business, as part of its ambitious plans for growth.

Kirsty Barnes, head of Wragge & Co's Banking and Finance team, said: "This deal is a significant boost to Norton Finance's plans for expansion. We have worked closely with Norton Finance and The Royal Bank of Scotland plc throughout the transaction to deliver a well thought-out commercial deal for Norton Finance, as well as a platform for competitive growth in their market.

"We have enjoyed working with Norton Finance enormously and look forward to working with them again during their anticipated period of growth."

Andrew Kirk, finance director at Norton Finance said: "We have been highly impressed with the support that Wragge & Co have provided to us throughout this process. We look forward to working together again in the future."

Norton Finance is a family owned business and an independent finance broker. The Norton Finance group offers a variety of financial products including secured, unsecured and adverse credit loans, mortgages and remortgages.

Wragge & Co's Banking and Finance team advises on a wide range of UK and cross-border mid-market acquisition, debt and leveraged finance deals for lenders and borrowers. Its lawyers operate as one team from offices in Birmingham and London and are recognised for being "professional" and "prepared to go that extra mile" (Chambers 2013). The team provides what one client describes as "magic circle quality but with a refreshing personal touch".

Kirsty led the Wragge & Co team which included director Khai Nguyen, assistant Joel Grossmark, and trainee Charles Royce.

2013 highlights for the team include advising long-standing client Santander UK plc on three growth capital deals in as many months. In addition, the team advised Pension Insurance Corporation (PIC) on a £60 million solar bond purchase - the UK's largest solar bond deal.

The team was also instrumental in the delivery of an £85 million buyout and refinancing of outdoor clothing and equipment retailer Mountain Warehouse.

Matter Type
Banking & Finance - Capital Markets: Debt
Industry
Finance & Banking
News Category
Banking & Finance