FINANCE: RBS has refinanced a £65m agreement with regeneration company Harworth Estates, following its takeover by Coalfield Resources.
The revolving credit facility replaces existing facilities with Lloyds Bank and Barclays.
The company, whose portfolio comprises 27,000 acres across 200 sites in the East Midlands, Yorkshire and the North, claims the new package provides better terms than the previous deal.
Mike Richardson, finance director of Harworth Estates, said: “We became RBS clients as we had full confidence that the RBS team understood our future business plan and delivered a flexible facility to match.
“The new facility with RBS creates a senior financing platform to enable the Harworth Estates business to drive further shareholder value from both its existing real estate portfolio and the wider real estate markets.”
