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£19m ABL facility for Entertainment Business

BZ has structured and delivered a flexible £19m asset-based lending facility, providing a leading privately-owned business in the entertainment sector with substantial additional funding for growth.

The funding package, which is comprised of a £14m receivables line and £5m revolving credit facility, will generate greater flexibility and headroom through key trading periods. This will support the company’s strong emergence from the pandemic and the execution of its ambitious expansion plans, enabling the business to broaden its geographical reach and increase its online presence.

BZ worked with the management team and their advisers to gain a close understanding of the needs of the business, its global customer base and the international security involved.

Commenting on the deal, Ben Milner, Regional Business Development Director at BZ, said: “It has been a pleasure working with PwC on this transaction to deliver a bespoke funding structure that meets the needs of the business. The significant additional headroom created will allow the shareholders to focus on further market growth in the UK and overseas.”

The client was advised by PwC, who introduced the transaction to BZ. Legal advice was provided to BZ by Squire Patton Boggs and the client was advised by Gordons. Collateral due diligence was provided by Hilco Valuation Services.

BZ offers structured, multi-jurisdictional ABL facilities from £10 million to £150 million that deliver working capital and corporate structuring solutions.