Cardiff and Vale College secures financing solution from Santander
Our Banking & Finance team has advised Cardiff and Vale College (CAVC) on securing a flexible and cost-effective financing solution from Santander UK plc, helping the college to refinance its existing debt and improve its financial stability.
One of the largest colleges in the UK, CAVC has learners across full-time and part-time college courses, university qualifications and apprenticeship programmes. As part of the refinancing transaction, we had to confirm the security arrangements with Santander UK plc, which involved preparing security confirmation deeds from each group company in respect of prior security granted by them in favour of Santander UK plc. This required a detailed review of the existing security documents and the necessary corporate authorisations from each company.
We negotiated the terms of the new revolving credit facility, which gives the college more flexibility and control over their finances. We also agreed the facility agreement and the related documents, and ensured the previous security arrangements with Santander remained in place.
With over 30,000 learners each year, this was an important transaction for CAVC. We are delighted to have supported them through this significant transaction, which will enable them to continue to provide high-quality education and training to their students and communities within the Capital Region of Wales.
Richard Pugsley, Vice Principal (Corporate Resources) at Cardiff and Vale College, said:
Capital Law advised us on a recent loan refinancing transaction. Their team demonstrated professionalism and expertise throughout the process, ensuring the transaction was completed efficiently and on time, and maintaining excellent communication throughout. I would be happy to recommend their services to anyone seeking reliable support for their funding needs.
Our Banking & Finance team understands the intricacies of refinancing. Whether it’s amending facility agreements, establishing subordination agreements, or balancing dual-rep advisory roles, our team is equipped to handle the challenges and deliver results that propel your business forward.
