Pinsent Masons advises Caretech on new bank facilities

18 Jul 2012 | 04:53 pm | 1 min. read

International law firm Pinsent Masons has advised CareTech Holdings PLC (CareTech), a leading UK provider of specialist social care services, on the group's syndicated refinancing of £149.4m.

Santander, Lloyds TSB and The Royal Bank of Scotland continue to back CareTech, along with Allied Irish Bank who have rejoined the syndicate, to establish new term loan, revolving credit and overdraft facilities. The new facility provides the platform for the group to continue to grow organically, with the scope for bolt on acquisitions. 

CareTech provides high quality individual support and accommodation across a wide range of services including residential services, foster care and family services and mental health services.  The group has capacity for over 2,116 places and operates services across England, Scotland and Wales. 

Farouq Sheikh, CareTech's Executive Chairman, said: 

“We are delighted to report the successful renegotiation of our banking arrangements well ahead of the existing facilities expiry in April next year.  We are extremely pleased that all 3 current lenders are participating in these new facilities with previous lender AIB being a participant again.” 

He added: “The new arrangements provide a clear and attractive funding structure to facilitate the medium term growth of the business.”

The Pinsent Masons team advising on the deal was led by Banking Partner Martin Bishop assisted by Anaïs Spacey (Banking) and Tom Eastwood (Property).

Commenting on the deal, Martin said: "It was a pleasure to work with CareTech to achieve a successful refinancing of the group's bank facilities.  CareTech is a long-standing client of the Firm which, together with our strong healthcare sector credentials, helped us negotiate facilities specifically crafted for the group's business ".

Latest press releases

Show me all press releases

Pinsent Masons continues to grow its structured finance team with new partner Igor Zyskind

Multinational law firm Pinsent Masons continues the expansion of its structured finance team with the appointment of partner Igor Zyskind in its London office.

Pinsent Masons advises Puma Energy on the issuance of $500m 7.750% high yield senior notes due 2029

Multinational law firm Pinsent Masons has advised global energy company Puma Energy on the Luxembourg aspects of the successful issuance of $500m 7.750% high yield senior notes due 2029.

Pinsent Masons Advises Ithaca Energy On Transformational North Sea Merger With Eni’s UK Upstream Business

Multinational law firm Pinsent Masons is advising leading UK independent exploration & production company Ithaca Energy plc on its transformational combination with Eni S.p.A.’s UK upstream oil and gas assets, establishing Ithaca Energy as the second largest independent operator in the UKCS by 2024 production.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons MPillay advises SUSI Partners on investment in Alba Renewables

Law firm Pinsent Masons MPillay has advised Swiss-based infrastructure investment manager SUSI Partners on its investment in Alba Renewables to build a renewable energy infrastructure business focused on The Philippines.

Pinsent Masons advises Bestinver Infra, FCR on acquisition of remaining shares in Irish toll road concession & operation companies

Pinsent Masons has advised Bestinver Infra, FCR on the acquisition of the remaining shares in N6 (Concession) Holdings Limited and N6 (Operations) Ltd, with Japanese co-investor Daiwa Energy & Infrastructure Co. Ltd.

Pinsent Masons advises Sandoz on acquisition of remaining shares in Rowex Joint Venture

Multinational law firm Pinsent Masons has advised Sandoz on the acquisition of the remaining shares in Rowex Limited, a joint venture in Ireland between Sandoz and Rowa Pharmaceuticals.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts

We are processing your request. \n Thank you for your patience. An error occurred. This could be due to inactivity on the page - please try again.