18 August 2017
Macfarlanes advises Avant Homes on £200m revolving credit facility
Macfarlanes has advised UK-based housebuilder Avant Homes in relation to the provision of a £200m revolving credit facility provided by Santander, HSBC, Bank of Ireland and RBS.
This funding injection will be used to acquire land in the Midlands, North East of England and central Scotland, forming part of Avant Homes’ ambitious growth plans which include increasing annual turnover to £500m and a building goal of 2,000 homes per year.
Macfarlanes has acted for Avant Homes on a number of occasions, including their 2014 acquisition by funds managed by a consortium comprising Alchemy Special Opportunities, Angelo, Gordon & Co and Avenue Capital.
The team for this matter was led by banking and finance partner Bronwen Jones with assistance from solicitor Lizzie Chamberlain.