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Ulster Bank is delighted to continue it’s longstanding relationship with Applegreen Plc (a major petrol forecourt retailer, operating across Ireland, the UK and the USA) as Mandated Lead Arranger in a €300M secured revolving credit and term loan facility to support the Company’s acquisition of 50.01% of Welcome Break. Welcome Break has a portfolio of 24 motorway service areas, 2 trunk road service areas and 29 hotels across the UK.
Ulster Bank collaborating with parent group Royal Bank of Scotland and utilising the product offering and expertise available to them, were able to facilitate the Underwrite and Syndication through Group affiliate NatWest Markets and participate in the Facilities as a Mandated Lead Arranger.
Commenting on the transaction, Glenn Shanley, Head of Large Corporates Ulster Bank said: “Ulster Bank are proud of our long term relationship with Applegreen plc and are very pleased to support Applegreen plc in their transformational acquisition of Welcome Break”
Niall Dolan, Chief Financial Officer of Applegreen, commented on the facilities: “We have a long standing relationship with Ulster Bank and consider them an important business partner. I look forward to building on this partnership as they continue to support our Applegreen growth strategy”.