Survitec receives £15 million bank guarantee facility

Global marine survival and safety solutions provider, Survitec, has announced it has completed a £15 million bank guarantee facility with Barclays Corporate Banking which will complement the company’s recent £270 million refinancing and £27.5 million super senior revolving capital facility. Survitec says all three agreements are part of its growth plans for its survival technology products and services.

“The bank guarantee from Barclays is another key component of our strategic plan,” says Ray Leclercq, Survitec’s chief financial officer. “This deal aligns with our customer growth plans and our unique ability to serve our customers globally with a one-stop shop for their survival and safety needs. Partnering with a global and well recognised financial services leader such as Barclays helps us strengthen our global customer offerings.”

Graeme MacLaughlin, relationship director at Barclays Corporate Banking comments: “Barclays is pleased to be working with global survival technology leader, Survitec, and to support them in their continued growth in technology products and services for customers around the world.”