20 July 2015
We are pleased to announce the signing of a new £25 million multicurrency revolving credit facility (RCF) with HSBC bank plc.
The RCF, which replaces WYG's existing trade finance facility with Santander Bank, extends committed facilities to WYG for five years. It has a £10 million sub limit for bonding and the ability to flex between bonding and revolving credit.
Paul Hamer, Chief Executive Officer, WYG said: "We are delighted to have secured this new facility with HSBC which not only provides WYG with additional working capital headroom but, more importantly, can be used as a catalyst to accelerate growth, both organic and acquisitive."
Wayne Shadlock, Relationship Director, HSBC said: "We have a strong appetite to support ambitious businesses, and WYG is an international business looking to grow. We are pleased they have chosen us to be part of this exciting period, helping them take forward their growth plans."