Slaughter and May advised Senior on funding its acquisition of Lymington Precision Engineering

Slaughter and May advised Senior plc (Senior) on new unsecured revolving credit and term loan facilities with a syndicate of lenders consisting of Lloyds Bank plc, HSBC Bank plc, KBC Bank NV, London Branch and Crédit Industriel et Commercial, London Branch and a separate bilateral term loan facility with The Royal Bank of Scotland plc.

The purpose of the new £45 million facilities is to provide Senior with funding in connection with its acquisition of 100% of the issued share capital of Lymington Precision Engineers Co. Limited and for general corporate and working capital purposes.