Porthaven Secures £100m Loan Facility from HSBC
Award winning Porthaven Care Homes has entered into a new five year £100m senior debt facility with HSBC to refinance 6 operational homes and develop up to 9 further new homes.
HSBC previously financed the construction of Thirlestaine Park Care Home in Cheltenham for Porthaven which opened in 2014, and is funding existing developments at Chalfont St Peter, Marlborough and Chipping Norton.
John Storey, Chief Executive and Founder of Porthaven commented “It is a testament to the efforts and achievement of the team at Porthaven that HSBC has recognised, and is supporting, the growth of Porthaven. Securing such a facility in what still remains a challenging debt environment is something we are proud of, and we look forward to developing our relationship with HSBC even further.”
Jason Briggs from HSBC said “We have worked with Porthaven Care Homes for a number of years and this transaction strengthens the relationship further. Porthaven is an ambitious business that has continued to invest to take advantage of growth opportunities within its sector. We have a strong appetite to support the growth of businesses like Porthaven, and are pleased to be part of this exciting period, helping them take forward their growth plans.”