Graham Cooke

The conclusion of the debt refinancing, with the support of finnCap Debt Advisory, is a significant and positive step for Iofina and is the culmination of many months of hard work. The favourable terms of this refinance demonstrate how far Iofina has progressed in recent years, given that the Company has significantly reduced debt, lowered debt interest rates, and secured a strong lending bank partner. With the Company’s balance sheet significantly strengthened by the 7-year term loan in place coupled with the revolving line of credit for future growth, Iofina is focused on operational developments and expanding its production and chemicals product portfolio.

I am delighted that we have secured a new loan facility an that our three existing funders continue to support the business during this challenging period, demonstrating their confidence in Morses Club and our growth and digital diversification strategy.

We are pleased to have secured this debt facility with Bank of Ireland, Barclays and Citi supported by finnCap.  This facility not only supports our recent acquisition but further strengthens our balance sheet providing additional growth capital.

“The Cavendish Team, led by Alistair and Mike, did a fantastic job managing the process, providing valuable advice and identifying Arbuthnot as the right partner for the business. It was a pleasure working together and we are pleased to have achieved a brilliant outcome for the company.”