Hill Dickinson advises B3 on refinancing deal
Law firm Hill Dickinson has advised B3 Cable Solutions on the completion of an asset-based refinancing package with PNC Business Credit, worth £43.1m.
Manchester Cables, which trades as B3 Cable Solutions and has operations across Europe, the Middle East and Asia, manufactures copper and optical cables which form the core of intranet, internet and other communication networks across the world.
B3 Cable Solutions has clients in sectors including, telecommunications, utilities, railway, building and industrial.
The Hill Dickinson team, led by Patrick Keown in Manchester, advised B3 Cable Solutions on PNC Business Credit's proposed refinancing package, which comprised accounts receivable and inventory revolvers which was complemented by plant and machinery and freehold property term loans.
Patrick Keown, a partner at Hill Dickinson, said: "The refinancing package put forward by PNC was very attractive and also demonstrated an ability to support B3 on future acquisitions. We are pleased to have been able to advise our client on the best possible outcome for the future success of the company."
