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Barclays facility buoys Survitec on top of recent refinancingBarclays facility buoys Survitec on top of recent refinancing

Survitec, a leader in lifesaving and survival technology, completed a £15m bank guarantee facility with Barclays Corporate Banking.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

June 28, 2021

1 Min Read
Credit: Seatrade Cruise News

This follows the company’s recently announced £270m refinancing and a new £27.5m super senior revolving capital facility.

Growth plans

All three of the agreements buoy Survitec’s growth plans for its survival technology products and services.

'The bank guarantee from Barclays is another key component of our strategic plan,' Survitec CFO Ray Leclercq said. '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 recognized financial services leader such as Barclays helps us strengthen our global customer offerings.'

Survitec recently acquired Hansen Protection, a leading European provider of protective wear for the energy, defense and agriculture sectors.

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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