Travers Smith advised ProService Building Services Marketplace plc ("ProService") on its refinancing, comprising the issue of up to £25 million floating rate secured convertible loan notes due 2031 to Ravensworth (International) Limited and entry into a £35 million asset-based lending revolving credit facility with Leumi UK Group Limited.
The proceeds of the refinancing were applied to repay in full the Group's existing senior secured facilities. Shareholder approval was obtained at a general meeting held on 17 July 2026.
ProService is a technology-enabled building services marketplace business admitted to trading on AIM, connecting businesses requiring building and facilities management services with a nationwide network of qualified service providers.
The Travers Smith team on this transaction was led by Corporate Partner Mohammed Senouci, who was supported by Associates Callum Morganti, Marie Morazzani, Natalia Ivanova, and Trainee Charles Keen.
Simpson Thacher & Bartlett LLP advised ProService on the debt aspects of the refinancing.
