Lords Group Trading plc Completes Refinancing of GBP 75 Million Group Lending Facilities with New GBP 65 Million Facilities from HSBC and Natwest

Lords Group Trading plc had completed the refinancing of the Group's existing GBP 75 million lending facilities (the 'Refinancing'). The Group's existing GBP 75 million lending facilities with a three bank syndicate consisted of a GBP 50 million revolving credit facility ('RCF') and a GBP 25 million receivables financing facility ('RFF') (together the 'Existing Facilities'), have been cancelled and repaid pursuant to the Refinancing with such repayment being funded by drawings under new GBP 65 million facilities provided by HSBC and NatWest consisting of a GBP 20 million RCF (the 'New RCF') and a GBP 45 million RFF each with an initial three-year term (together, the 'New Facilities'). The Refinancing includes two uncommitted extension options of one year each which would, subject to lender approval, extend the tenor of the New RCF to four years and five years if exercised.

The New Facilities are more closely aligned with the Group's trading activities and demonstrate its diversified customer base and track record in converting receivables into cash. The Refinancing is expected to result in material interest cost savings for the Group over the life of the facilities.