Bank of Ireland supports JTC PLC with the refinancing of its senior debt facility
Bank of Ireland’s Business Services team has provided a five year senior debt facility to support the refinance of JTC’s existing facilities. This is part of a four bank lending-group and will see an increase in JTC’s debt facilities from £55m to £100m to provide headroom for further expansion.
JTC is a leading independent provider of fund, corporate and private client services. It is also one of the few providers of such services with global scale and reach, with a presence in 18 jurisdictions worldwide.
Commenting on the transaction, Stuart Russell, Head of Business Services at Bank of Ireland said: “Bank of Ireland is delighted to have supported JTC with its increased facility.We value JTC’s emphasis on partnerships, technology and shared ownership and are looking forward to developing a strong relationship with the management team over the years to come.”
Martin Fotheringham, CFO of JTC PLC, said: “JTC is delighted to welcome Bank of Ireland as a new member our banking group. We have been impressed by their proactive approach to developing the relationship and in particular their understanding of our wider strategy and how carefully targeted acquisitions form part of our ambitious long-term growth plans. Following our listing on the main market of the London Stock Exchange in March 2018, their support as part of this new credit facility will help us to pursue opportunities that enhance and grow the JTC platform globally.”