Manolete Partners PLC - Buckinghamshire, England-based insolvency litigation financing firm - Signs new revolving credit facility with HSBC UK Bank PLC for the same level of £17.5 million as its previous arrangement, but with a reduced margin charged. Says the margin charged on the new RCF is 4.0% over the Sterling Overnight Index Average. Previously this was 4.7%, says Manolete. Notes that the new facility has a reduced non-utilisation fee of 1.40%, down from 1.88%. Adds that it is a 3.25-year facility with an initial maturity of June 27, 2028, with the option to extend by a year. Chief Executive Steven Cooklin says: ‘We are delighted to have secured a new long-term commitment to the business from HSBC, which is testament to the strong partnership we have established since 2018. The improved terms of the facility demonstrate confidence in the Manolete business.’

Current stock price: 79.45 pence, closed down 0.7% on Friday in London

12-month change: down 38%

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