REG - Harworth Group PLC - New £275 million Revolving Credit Facility

HarworthAnnouncement

26/11/2025 07:00

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RNS Number : 9861I  Harworth Group PLC  26 November 2025

HARWORTH GROUP PLC

('Harworth' or the 'Group' or the 'Company')

 

Harworth agrees new £275m RCF with existing lenders at improved terms

 

Harworth Group plc (LSE: HWG), a leading regeneration and strategic land owner
and developer, announces that it has signed a new £275 million Revolving
Credit Facility ('RCF'). It includes an uncommitted accordion option, which if
exercised would take the RCF to £325 million. The facility has an improved
core margin of 200 basis points over SONIA, with an initial four-year term,
which may be extended to a maximum of five years at Harworth's request,
subject to bank consent. The syndicate comprises Harworth's existing
relationship banks, NatWest, Santander and HSBC, with the option to add
further lenders.

 

The new facility replaces Harworth's existing £240 million facility and
extends the Group's debt maturity by approximately 2.5 years.

 

Kitty Patmore, Chief Financial Officer of Harworth, commented: "We have been
able to take advantage of favourable market conditions, and the strong
relationships we have with our core blue-chip banking partners, to refinance
our RCF on improved terms. It extends the duration of our bank facilities to
the end of 2029, reduces our costs and provides increased flexibility to
invest in our pipeline of sites, as we look to optimise our balance sheet. Our
target net loan-to-portfolio value of below 20% at year-end and 25% throughout
the year remains unchanged."

 

-ENDS-

 

For further information

 

 Harworth Group plc
 Lynda Shillaw (Chief Executive)             T: +44 (0)114 349 3131

 Kitty Patmore (Chief Financial Officer)     E: investors@harworthgroup.com (mailto:investors@harworthgroup.com)

 Juliana Weiss Dalton (Investor Relations)

 FTI Consulting
 Dido Laurimore                              T: +44 (0)20 3727 1000

 Richard Gotla                               E: Harworth@fticonsulting.com (mailto:Harworth@fticonsulting.com)

 Eve Kirmatzis

 

About Harworth

Harworth Group plc (LSE: HWG), is a leading regeneration and strategic land
owner and developer focused on the Industrial & Logistics (I&L) and
Residential sectors. We own, develop, and manage a portfolio of over 15,000
acres of Strategic Land over 100 sites located throughout the North of England
and Midlands. We specialise in delivering long-term value for all stakeholders
by regenerating large, complex sites, into new I&L developments and
serviced remediated land for sale into the I&L and Residential land
markets. Our long-term through-the-cycle business model is to create
sustainable places, support new homes, jobs and communities where people want
to live and work. Visit www.harworthgroup.com for further information. LEI:
213800R8JSSGK2KPFG21

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