Harworth expands £275m RCF syndicate
Barclays joins syndicate on £275m RCF, expanding lender group to four banks.
- RCF facility size £275m
- Accordion option £325m
- Core margin over SONIA 200 basis points
- Initial term four years, extendable to five years
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Harworth Group plc (LSE: HWG), a leading regeneration, strategic land and development business, announces that Barclays has joined the syndicate of three existing relationships banks on its £275 million Revolving Credit Facility ('RCF') refinanced in November 2025. The facility includes an uncommitted accordion option, which if exercised would take the RCF to £325 million.
The terms in which Barclays is joining the facility are unchanged, namely a core margin of 200 basis points over SONIA, with an initial four-year term, which may be extended to a maximum of five years at Harworth's request, subject to bank consent. Harworth's existing relationship banks in the syndicate comprise NatWest, Santander and HSBC.
Kitty Patmore, Chief Financial Officer of Harworth, commented: "We are pleased to welcome Barclays as to our RCF syndicate, adding further depth and quality to our relationship banking group. Their addition reflects confidence in our strategy and resilience of our business. This broader funding base enhances our flexibility to accelerate new site development to meet demand as opportunities arise, supporting our growth ambitions and unlocking long-term value realisation while maintaining balance sheet discipline."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.