New £77.5m credit facility for SA Brain

The deal has been jointly arranged by Lloyds Bank Corporate Markets and HSBC Corporate Banking teams. It includes a £70m revolving credit facility with equal funding from both banks, plus a £7.5m facility from Lloyds Bank Corporate Markets.

Scott Waddington, Brains chief executive, said: “The recession has hit the hospitality industry hard, but while some businesses suffered we have taken the opportunity to reinvest and redevelop many of our pubs — a strategy that has paid off as they continue to trade strongly.

“It has been positive that our banking partners support our strategy and this deal will provide us with the firm foundations we need to further develop and expand our business.”

Paul Williams, relationship director at Lloyds Bank Corporate Markets, added: “Brains is extremely well-run. We have worked closely with the business and the team from HSBC to provide Brains with the right deal to enable the business to realise its plans.”

Warren Lewis, HSBC head of corporate banking in Wales, said: “We are extremely pleased to begin a new relationship with one of Wales’ most iconic and well-loved brands. The company has grown despite a challenging economic climate thanks to astute and strategic management.”