Spearing Waite advises late night bar operator in bank refinancing deal

The banking and finance team at Spearing Waite have advised The Deltic Group on its recent bank refinancing.

Deltic, which owns and operates venues all over the UK, has refinanced its existing HSBC facilities to meet working capital requirements and in preparation for future expansion and potential acquisitions.

The new financing means that Deltic will continue to work closely with HSBC to support the operations of the business, fund further growth and invest in existing sites.

Haydon Simmonds, Partner, Banking & Finance, said: “The banking team at Spearing Waite are delighted to have supported the Deltic team through this strategically important financing transaction.

“Deltic is the UK’s leading operator of late night venues and has ambitious plans to grow the business further.

“Spearing Waite is proud to be a trusted adviser to the group and its leadership team on corporate, real estate and banking legal matters and we look forward to supporting the business moving forward.”

Alex Millington, Deltic’s Group Finance Director, said: “The advice and support we receive from the team at Spearing Waite is second to none and they always help our transactions run smoothly.”

Spearing Waite launched its dedicated banking and finance team with the appointment of specialist banking lawyer, Haydon Simmonds, earlier this year.

Haydon had spent the past six years in London, most recently at Addleshaw Goddard and, prior to that, at Gateley plc. He qualified at Shoosmiths in 2008.

In his new role at Spearing Waite, Haydon is developing the firm’s specialist banking and finance team, working closely with Corporate Group head Martin Smith and Real Estate Finance head, Nisha Gohel.

Haydon’s experience spans advising both borrowers and lenders across a wide range of domestic and cross-border corporate banking and real estate finance transactions.