Liberty Corporate Finance is pleased to announce the completion of their latest project, the refinancing of Bounty just before Christmas.
Liberty Corporate Finance worked with the management of Bounty to raise a new debt package from the existing bankers, HSBC, to enable the repayment of preference shares held by Bounty’s institutional shareholder, ECI Partners. Simon Hill from Liberty commented: “We continue to enjoy an excellent relationship with Bounty and ECI and are understandably delighted to have helped them with yet another project. With the continued improvements in the performance of the business since the MBO in 2004, a refinancing made sense at this stage - providing a partial return for ECI as well as reducing the overall finance costs for the group.” Zoë Tibell from Bounty commented: “Once again, Liberty helped drive the project to a successful conclusion with the minimum of fuss and disruption. The Board are very pleased with the outcome - cheaper financing costs and a partial return for ECI ahead of plan.”