The PGIM Private Capital team has maintained a regular direct calling relationship with Speedy Hire since 2008. In December 2024, the Company started working with us on a transaction to refinance an existing asset-based lending facility with an RCF and Private Placement, increasing the Company’s overall facilities and providing greater liquidity and flexibility.
In April 2025, PPC provided Speedy Hire with £75 million of 7-year Senior Secured Notes, providing tenor and a diversification of funding sources for the Company’s capital structure. The Notes were priced during a period of significant capital markets volatility, demonstrating our ability to continue supporting borrowers and remain open for business.
Speedy Hire chose to partner with us due to (i) our longstanding existing relationship, (ii) our deliverability and consistency of capital, and (iii) our differentiated capital solutions.
We were glad for this opportunity to formalise our relationship with Speedy Hire through this transaction, and we look forward to working alongside the Company in the future.