REG - Lords Group Trading - Refinancing of Group Lending Facilities

Lords TradingAnnouncement

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RNS Number : 3895Z  Lords Group Trading PLC  07 April 2026

7 April 2026

 

Lords Group Trading plc

('Lords', the 'Company' or the 'Group')

 

Refinancing of Group Lending Facilities

 

Lords (LORD.L), a leading distributor of building materials in the UK, is
pleased to announce that it has completed the refinancing of the Group's
existing £75 million lending facilities (the 'Refinancing').

 

The Group's existing £75 million lending facilities with a three bank
syndicate consisted of a £50 million revolving credit facility ('RCF') and a
£25 million receivables financing facility ('RFF') (together the 'Existing
Facilities'), have been cancelled and repaid pursuant to the Refinancing with
such repayment being funded by drawings under new £65 million facilities
provided by HSBC and NatWest consisting of a £20 million RCF (the 'New RCF')
and a £45 million RFF each with an initial three-year term (together, the
'New Facilities'). The Refinancing includes two uncommitted extension options
of one year each which would, subject to lender approval, extend the tenor of
the New RCF to four years and five years if exercised.

 

The New Facilities are more closely aligned with the Group's trading
activities and demonstrate its diversified customer base and track record in
converting receivables into cash. The Refinancing is expected to result in
material interest cost savings for the Group over the life of the facilities.

 

Stuart Kilpatrick, Chief Financial Officer of Lords, said: "We are pleased to
complete this Refinancing exercise and appreciate the support of our lenders,
both with regard to the Existing Facilities and, in particular, look forward
to continuing our strong relationship with HSBC and NatWest under the New
Facilities."

 

- Ends -

 

FOR FURTHER ENQUIRIES:

 

 Lords Group Trading plc                                   Via Burson Buchanan

 Shanker Patel, Chief Executive Officer                    Tel: +44 (0) 20 7466 5000

 Stuart Kilpatrick, Chief Financial Officer

 Cavendish Capital Markets Limited                         Tel: +44 (0)20 7220 0500

 (Nominated Adviser and Joint Broker)

 Ben Jeynes / Seamus Fricker (Corporate Finance)

 Julian Morse / Henry Nicol / Matt Lewis (Sales and ECM)

 Berenberg                                                 Tel: +44 (0)20 3207 7800

 (Joint Broker)

 Matthew Armitt / Harry Nicholas / Detlir Elezi

 

 Burson Buchanan                                           Tel: +44 (0) 20 7466 5000

 Henry Harrison-Topham / Steph Whitmore / Abby Gilchrist   LGT@buchanan.co.uk (mailto:LGT@buchanan.co.uk)

 

 

Notes to Editors:

 

Lords is a specialist distributor of building, plumbing, heating and DIY
goods.  The Group principally sells to local tradesmen, small to medium sized
plumbing and heating merchants, construction companies and retails directly to
the general public.

 

The Group operates through the following three divisions:

 

Merchanting: supplies building materials and DIY goods through its network of
merchant businesses and online platform capabilities.  It operates both in
the 'light side' (building materials and timber) and 'heavy side' (civils and
landscaping), through 33 locations in the UK.

 

Plumbing and Heating: a specialist distributor in the UK of plumbing and
heating products to a UK network of independent merchants, installers and the
general public.  The division offers its customers an attractive proposition
through a multi-channel offering.  The division operates over 16 locations
enabling nationwide next day delivery service.

 

Digital: CMO Superstores provides an online route to market from nine
specialist websites for construction and plumbing & heating customers.

 

Lords was established 40 years ago as a family business with its first retail
unit in Gerrards Cross, Buckinghamshire.  Since then, the Group has grown to
a business operating from 50 sites.

 

For additional information please visit www.lordsgrouptradingplc.co.uk
(http://www.lordsgrouptradingplc.co.uk)

 

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