Real Good Food secures £8.9m credit facility to pay shareholder debt

Writer, Stock Market Wire
Friday, August 23, 2019 - 07:06

Cake decorations and ingredients supplier Real Good Food said it had secured an £8.9m credit facility from Leumi ABL.

The company said the funding would allow it to repay certain debt provided by its three major shareholders, NB Ingredients, Omnicane International Investors and funds managed by Downing.

The facilities comprised a £5.5m receivables facility and a £1.3m term loan facility,each with a 60-month term, and a £2.1m plant and machinery facility with a 36-month term.

'The bank's support underpins the work the board has undertaken in streamlining the business units of Rreal Good Food in order to drive the group towards consolidated profitability,' chief executive Hugh Cawley said.

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