LEEDS-BASED WYG, the project management and technical consultancy, has announced the signing of a new £25m 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 £10m sub-limit for bonding and the ability to flex between bonding and revolving credit.
Paul Hamer, the chief executive of 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.”