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Polypipe secures £300m funding deal

A four-bank syndicate of Barclays, Lloyds Bank Commercial Banking, Royal Bank of Scotland and Santander has provided a £300m funding package to Doncaster-headquartered manufacturer Polypipe. The lenders' Yorkshire-based Relationship Banking and Structured Finance teams provided the business with a five-year revolving credit facility of £75m each. Polypipe, which is one of Europe's biggest manufacturers of plastic piping systems, will use the funding to refinance post-IPO borrowings provided by the same banks and to acquire Nuaire Ltd, a ventilation systems manufacturer, from Electra Partners for £145m.

 

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