Pinsent Masons advises NatWest in its first sustainability linked asset-based lending facility
10 Feb 2023 | 10:24 am | 1 min. read
Multinational law firm Pinsent Masons has advised NatWest in its first sustainability linked asset-based lending (ABL) facility to Recycling Lives, a UK recycling and waste management business.
Recycling Lives turned to NatWest for a new financing package for refinancing and working capital purposes, working with their board of investors, Three Hills Capital Partners, and EY. This facility provides liquidity for Recycling Lives growth plans while reflecting commitment to help build a greener and fairer economy.
The NatWest team structured a £40.3 million ABL facility to provide liquidity to refinance existing borrowing and offer some headroom for working capital and any potential acquisitions. An additional £10 million facility was also agreed with Lombard to help fund the company's investment in new equipment.
The Pinsent Masons team advising on the transaction was led by Financial Services Partner Victoria Baker, with support from Adam Patel, Luke Etson and Nadia Latinska.
Commenting on the deal, Victoria Baker said: “This is a great example of how organisations successfully implement a financing package with a strong sustainability focus. We’ve been working with NatWest for many years now and we are proud to support their commitment to sustainability and to see our expertise has contributed to the success of this deal.”
Andrew Barraclough, Head of Regional Asset Based Lending at NatWest, added: "We're thrilled to play a part in Recycling Lives' future growth through this inaugural ESG financing, and we’re proud to help accelerate the UK’s sustainability journey by linking banking products to sustainability KPIs. We would like to thank Victoria and the team at Pinsent Masons for the excellent support they provided to help deliver the deal.”
Key Contacts
Latest press releases
Show me all press releasesPinsent Masons act as key adviser to Dalmore Capital in relation to acquisition by Royal London
Multinational Law firm Pinsent Masons played a key role in advising the UK-based infrastructure asset manager Dalmore Capital through its acquisition by UK pensions and investment giant Royal London.
General Counsel Wellbeing Network partners with Pinsent Masons to deliver series of workshops for GCs
The GC Wellbeing Network, a global organisation to champion the wellbeing of general counsel, has partnered with multinational law firm, Pinsent Masons, to deliver a series of workshops to equip GCs with tools and skills to improve their wellbeing.
Pinsent Masons advises Gulf Nav on its AED 3.2 billion reverse takeover of Brooge Petroleum Gas Investment from Brooge Energy Limited
Multinational law firm Pinsent Masons has advised Gulf Navigation Holding PJSC (Gulf Nav), the only maritime and shipping company listed on the Dubai Financial Market, on its landmark reverse takeover of Brooge Petroleum and Gas Investment Company from NASDAQ-listed Brooge Energy Limited.
People who viewed this press release also viewed
Show me all press releasesPinsent Masons act as key adviser to Dalmore Capital in relation to acquisition by Royal London
Multinational Law firm Pinsent Masons played a key role in advising the UK-based infrastructure asset manager Dalmore Capital through its acquisition by UK pensions and investment giant Royal London.
Pinsent Masons advises Balbec Capital on its first European public securitisation
Multinational law firm, Pinsent Masons LLP, has advised IGCF VI Euro, L.P. a sub-fund of Balbec Capital LP, a global alternative investment manager headquartered in the United States on its first European public securitisation in relation to the issuance of notes totalling EUR 392 million backed by a portfolio of reperforming Spanish mortgage loans, arranged by Goldman Sachs.
Pinsent Masons expands pensions team with partner hire
Multinational law firm Pinsent Masons has appointed pensions partner Anna Taylor, to join the firm’s Finance and Projects team in London.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]