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.”