RedCat Pub Company stabilises business with £61m refinancing deal

RedCat Pub Company has successfully completed a £61m refinancing of its current debt facilities.

The pub group, headed by former Greene King chief executive Rooney Anand, appointed administrators to its RedCat Leased Pubs division – a subsidiary of 10 leasehold pubs – in March. It also put 14 sites within its managed division up for sale. It currently has 102 sites within the group.

Today the business announced a £61m deal, comprising of debt funding from Barclays Bank and further equity from the group’s existing investors, including funds managed by Oaktree Capital Management.

The business said the deal demonstrated a “vote of confidence” in its strategy, team and future success.

RedCat group chief executive Richard Lewis said: “This is a hugely positive step forward for the business, with backing from a major high street bank, alongside further support from our partners at Oaktree. The refinancing provides the business with the stability required to invest for growth.

"The deal will enable the team to build on the successes we are already seeing with recent investments in our portfolio across both RedCat and the Coaching Inn Group, while enabling us to look to the future with even greater confidence and excitement.”

Photo: RedCat pub the Rockingham Arms, Hampshire www.rockinghamarms.co.uk/