19 July 2018

Forsters advises long standing client Greybull Capital in respect of British Steel financing

Greybull Capital acquired British Steel, a £1.4 billon turnover UK-based steel manufacturer, in June 2016. During the last two years the business has experienced significant growth. Greybull Capital has secured £90 million of asset-backed financing as part of its long-term strategy for British Steel.

Forsters Banking and Finance team has advised Greybull Capital on this significant deal, in which White Oak Global Advisors LLC, a San Francisco-based credit fund, has provided a FILO (first-in, last-out) facility to ensure British Steel can continue to invest in the business.

Victoria Edwards, head of Banking and Finance, was assisted by Rowena Marshall, senior associate. 

Victoria commented: “It is exciting to be part of the continual growth and success of British Steel and to be involved in this (and other) financing projects for them.”

"I have always been impressed with the quality and speed of service and thoroughness - the latter is critical."
Chambers UK, 2016
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