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LGT Private Debt arranges the refinancing of Verdant Leisure

October 3, 2019

LGT Private Debt has successfully arranged and underwritten a unitranche facility to support the refinancing of Verdant Leisure and drive buy and build strategy led by Palatine

LGT Private Debt (UK) Ltd. (formerly known as LGT European Capital Ltd) is pleased to announce that entities it advises acted as sole arrangers and underwriters of a unitranche financing, supporting the refinancing of Verdant Leisure (the “Company”) held by Palatine. 

Verdant Leisure operates nine holiday parks based in Southern Scotland and North East England with 3,000 pitches, comprising of privately owned lodges and holiday homes, holiday lettings and touring facilities.  

The business completed a co-terminus ground rent and refinancing with Aberdeen Standard Investments and LGT Private Debt (sole arranger and underwriter for the unitranche). Furthermore, it provides additional facilities to fund future acquisitions enabling the business to continue with its buy and build strategy.  

“LGT Private Debt is pleased to support Palatine and Verdant Leisure in this next phase of development" said Colin Wright, Managing Director at LGT Private Debt. “Verdant Leisure has had strong growth over the last 3 years with Palatine’s backing and our financing will help continue that development and the consolidation of the holiday park market.”  

Palatine Partner, Ed Fazakerley said, “Verdant Leisure has made great progress since our investment in 2016, growing both organically and through acquisition. The refinancing has allowed Palatine to return funds to our investors and the partnership with LGT Private Debt provides significant capital for future growth.”