Law Firms

Travers Smith advises RSK on Ares debt facilities

The new debt facilities will be used to refinance RSK’s existing credit facilities as well as support its continued organic and inorganic growth plans

Travis Smith has advised RSK on over £1bn of available debt facilities from Ares. The new debt facilities will be used to refinance RSK’s existing credit facilities as well as support its continued organic and inorganic growth plans.

This marks the largest private credit-backed sustainability-linked financing to date, with an additional £40m of day-one revolving debt provided by National Westminster Bank plc (NatWest). 

The debt facilities in question include an annual margin review based on the achievement of sustainability-linked targets, which are broadly focused on carbon intensity reduction and improvements to health and safety management and ethics. 

RSK anticipates interest savings of over £500,000 per year and has committed to donate a minimum of 50% of any margin benefit toward sustainability-related initiatives or charitable causes.

Alan Ryder, founder and CEO of RSK commented: “This financing demonstrates our deep commitment to driving sustainable business practices not just within our clients’ businesses, but also within our own. We look forward to continuing the great relationship we have with the Ares team while responsibly expanding our services and geographic footprint.”

Matt Ayre, head of finance at RSK, added: “We are proud to support RSK on this significant financing that represents a first for both RSK and Ares. Sustainable finance is of rapidly growing importance to our borrower, sponsor and lender clients alike and our team is at the forefront of developing innovative financing solutions in this space.”

Travers Smith also stated that sustainability lies at the heart of their business proposition and is high on the agenda for many of their clients.

Back to top button