Charles Russell Speechlys advises Duke Royalty on increasing and extending its revolving credit facility agreement
London listed Duke Royalty was founded in 2015 and is the leading provider of royalty finance to companies in the UK and Europe. The revised credit facility remains with Honeycomb Investment Trust PLC, a credit fund with Pollen Street Capital as Investment Manager. The facility is extended to a maximum of £55m and will enable Duke Royalty to capitalise on the significant opportunity available to add new royalty partners looking for long-term, flexible alternative capital.
Danny Sullivan, Partner, Charles Russell Speechlys commented: “We are delighted to have been able to assist Duke Royalty with this agreement which will see them continue to build on their successful track record of providing royalty financing for both business owners and robust returns for investors. We have worked with Duke Royalty on many successful investments in the last few years and look forward to continue supporting Neil, Charlie and the team at Duke Royalty at they expand the business in the UK and Europe.”
Neil Johnson, CEO of Duke Royalty, said: “The CRS team’s support in securing this increased and extended credit facility has positively impacted our business and we thank Danny and the team for their advice. We have experienced rising demand for our royalty finance solution in the wake of the pandemic, due its long-term, supportive and revenue-linked nature. We are now well positioned to support these businesses through trying times while in turn diversifying and building our portfolio.”
The Charles Russell Speechlys team was led by Banking & Finance Partner Danny Sullivan, assisted by Sufia Ali.
