Moorcrofts advised long-standing client on secured revolving loan facility
Moorcrofts recently advised long-standing client, MLL Telecom on a secured revolving loan facility of up to 12 million Canadian dollars by Canadian lender, 2130337 Ontario Inc.
Peter Woolley (corporate partner) led the transaction, with support from George Johnson (corporate paralegal).
MLL Telecom is a licensed UK telecoms operator and owns wireless spectrum across the UK. MLL Telecom specialises in providing professional services and fully managed networks to the mobile network operators and national system integration services to the public sector. It has become a market leader for fully managed connectivity solutions and wider network services. It has recently been chosen to support the mobile operators with the delivery of the rollout of its transmission services across the UK in supporting its 5G network rollout programme.
Shaun Ledgerwood, MLL Telecom chief executive officer, said: “This is an exciting time for MLL as the company continues to experience rapid growth following significant new and repeat business successes, including from UK local authorities and the NHS. The provision of the revolving loan facility will assist us with our working capital requirements, and it will also help us to further accelerate business growth in key areas. Many thanks to the Moorcrofts team for the great work you did getting us to the point of conclusion to a challenging deadline.”
Woolley commented as follows: “Moorcrofts was delighted to advise MLL Telecom on the new loan facility, in view of our long relationship with the company. We hope that the new facility will be a valuable resource that enables MLL to consolidate its current position and drive further expansion in the telecoms and fully managed networks sectors.”
Other professional advisers on the transaction included Herbert Smith Freehills (acted for 2130337 Ontario Inc).
Moorcrofts corporate team regularly acts for buyers, sellers and investors across a broad range of industry sectors. With a wide array of clients, from PLCs and household names to sole traders and partnerships, Moorcrofts has the expertise to advise on all aspects of corporate transactions.
