Nisa Retail is a mutual organisation, headquartered in Scunthorpe, that provides services to support a membership network of more than 3,000 convenience retail stores. The refinance forms part of Nisa Retail's overall ambition to increase turnover to £2b by 2019 by providing longer term, cheaper and more flexible capital for the business to further invest in growth over the next three to five years.
The Pinsent Masons team acting on the transaction was led by Partner Edward Sunderland and assisted by Vicci Baker, John Edwards, Jennifer Rawlins, Stiofán Doherty and Isabel Whitehurst.
Commenting on the deal Edward Sunderland said:
"The Structured Finance team at Pinsent Masons were very pleased to be working with the HSBC and Wells teams on this transaction to help them put in place commercial and pragmatic funding arrangements to support the ongoing growth of Nisa Retail. The size of our dedicated ABL team meant that we were able to meet the tight timescales required."