Metro Bank has agreed a £50m five-year lending deal with Darwin Leisure Development Fund (DLDF), which owns a number of holiday parks across the UK.
The deal includes a £10m revolving credit facility and a £40m term loan.
The finance will help Darwin Leisure Development Fund with refinancing and give the company flexibility as it grows its portfolio of holiday and leisure parks.
KPMG corporate finance acted as lead financial adviser to Darwin Leisure Development Fund on the deal.
Burges Salmon and Gateley acted as legal advisers to Darwin Leisure Development Fund and Metro Bank.
Nick Kalamaras, head of hospitality and leisure at Metro Bank, said: “We’re delighted to play a role supporting Darwin Leisure Development Fund’s growth journey.
“We understand the requirements of the hospitality and leisure industry and are uniquely placed to support high-quality operators like Darwin with facilities specifically tailored to need, alongside our relationship banking service.”
James Penney, chairman at Darwin Alternatives, investment adviser to DLDF, said: “We are pleased to have successfully completed the refinancing of DLDF’s senior debt facilities with the support of Metro Bank.
“This new package not only strengthens the Fund’s financial foundation but also provides the flexibility needed to support our long-term growth strategy.
“As we continue to invest in and expand our portfolio of premium UK lodge resorts, this facility will help us deliver exceptional experiences for our guests and strong, sustainable returns for our investors.”
Charlie Hughes, head of real estate debt advisory at KPMG, said: “This transaction reflects the market’s growing confidence in the strongest holiday park operators – those with a clear brand and high-quality assets that deliver in the current market.
“We’re proud to support Darwin in the delivery of a new flexible, cost-effective financing deal that lays a strong foundation for the platform’s future growth.”
