Palamon-backed Towry secures £47.3m refinancing package

The debt issuance comprises £42.5m in senior and junior loans from Macquarie Bank and an additional £4.8m of senior debt provided by existing lender RBS.

The loans will replace an existing mezzanine debt facility for the firm, which provides financial advice and asset fund management services. The company operates in the UK and has £4.6m of assets under management. Revenues have grown by more than 35% each year since Palamon's original investment in 2003 following a strategy of organic and acquisitive growth.

Slaughter & May provided legal advice to the GP, while Macfarlanes and SJ Berwin advised the senior debt and junior debt lenders respectively.

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• Topics
• UK / Ireland
• Financials
• Restructuring
• United Kingdom
• Palamon Capital Partners
• Refinancing