Manolete Partners plc has completed a successful debt refinancing

Manolete Partners plc has signed a new revolving credit facility (RCF) with its existing provider, HSBC. The new RCF provides Manolete with the same level of facility as the previous arrangement, at US$22.6 million (£17.5 million), but with a reduced margin and lower non-utilization fee. The facility has a term of 3.25 years, with the option to extend for an additional year on the same terms.

Founded in 2009 by CEO Steven Cooklin, Manolete is the leading insolvency litigation financing company in the UK. The company has invested in more than 1,450 UK insolvency litigation cases and successfully completed over 1,050 of them. Manolete works alongside insolvency practitioners (IPs) from all the Big Four firms, as well as smaller regional practices. To date, Manolete has worked with over 200 IP firms and their chosen legal advisors, often on multiple cases.

Oaklins Cavendish, one of Oaklins’ member firms in the UK, advised Manolete on this successful debt refinancing transaction. As a debt team, Oaklins Cavendish have been engaged with Manolete for nearly 18 months, having successfully renegotiated their covenant suite in March 2024.