£245m refinance for Holidaybreak

NORTHWICH-based travel group Holidaybreak has completed a £245m refinancing with a syndicate of banks.

The package, which matures in 2019 and 2020, has been arranged with its existing lenders - Santander, Barclays, HSBC, Lloyds and RBS - and a new member, M&G Investments.

The company previously agreed a £230m three-year deal in 2012.

It said the latest deal would remove legacy acquisition finance debt, reduce finance costs, simplify borrowing arrangements, and diversify the sources of lending.
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