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12 September 2019

Charles Russell Speechlys advises Duke Royalty Limited (AIM: DUKE) on £30 Million Debt Facility from Honeycomb Investment Trust PLC

Charles Russell Speechlys has advised Duke Royalty Limited on a new £30m revolving credit facility agreement from LSE-listed Honeycomb Investment Trust PLC.  The new credit facility replaces, on improved terms, a previous £10m revolving facility from Honeycomb which Duke assumed as part of its acquisition of Capital Step Holdings Limited in February 2019. The new facility includes an additional uncommitted accordion facility which would increase the size of the facility to £50m. 

Duke Royalty is listed on AIM and is a provider of alternative capital solutions to a diversified range of businesses in Europe and world-wide. 

Banking partner Danny Sullivan said: “We are delighted to have advised Duke Royalty on closing this new facility, which capitalises on an existing key lending relationship from the Capital Step acquisition and will help Duke drive forward its growth strategy.” 

Neil Johnson, CEO of Duke Royalty said: “The Charles Russell Speechlys team was an important partner in this refinancing. Both the attention to detail and the more strategic issues were handled to high standards.”   

The Charles Russell Speechlys team, led by Danny Sullivan, comprised Banking Senior Associate Chris Forrest, Banking Associate Fraser Brown and Corporate Partner Paul Arathoon.