London, 19 February 2014
Macquarie Lending, part of Macquarie’s Corporate and Asset Finance Group, has provided a £130 million unitranche debt facility to Trust Inns Limited, an independent, family owned pub company in the UK.
Macquarie Lending was the sole provider of the unitranche loan, which has been used to refinance existing debt facilities to the company, owner of more than 480 tenanted public houses across England, Wales and Scotland.
Hamish Jones, Managing Director in Macquarie Corporate and Asset Finance, said: “We are very pleased to be able to provide this financing package to Trust Inns. Our flexible approach to lending allowed us to tailor a solution for our client which was appropriate for their specific requirements.”
Lynne D’Arcy, Managing Director of Trust Inns, commented: “We selected Macquarie for this transaction because they were able to provide a comprehensive offering that fits our needs as we continue to support tenants in building successful local pub businesses within our properties.”
Established in 1995, Trust Inns has become one of longest standing pub companies in the UK and currently owns more than 480 public houses across England, Wales & Scotland. Our estate of pubs covers the entire spectrum of pub categories, from traditional local pubs to upbeat city centre bars, from rural pub restaurants and hotels to snooker halls and wine bars.
The majority of our estate comprises of tenanted properties where the tenant has full responsibility for the day to day operation of their pub business. The remainder consists of a small number of managed outlets which are directly operated by the company.
At Trust Inns our key objective is to support tenants building successful local pub businesses within our properties.