Publicly traded DWF and its lender have agreed an extension of the law firm’s current revolving credit facilities, as well as an easing of requirements to allow the firm to take on more debt to help it cope with market turmoil fueled by the COVID-19 pandemic.
The U.K. main market listed firm has agreed to extend its current arrangements with its bank with a secondary revolving credit facility of about $18.5 million, in place for 18 months, the firm announced in a statement on Friday. This tops up the firm’s existing $98.8 million facility, and provides the firm with access to working capital facilities of $151 million.
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