One51 poised for growth as HSBC adds €25m

HSBC has joined Dublin-based niche investment group One51’s banking syndicate, adding another €25m to the company’s existing loan facility and boosting it to €90m.

Earlier this year, the plastics and renewable energy-focused business completed a debt refinancing with its lenders, resulting in a new €75m four-year bank facility.

Yesterday, on the back of a strong set of interim results, One51 announced HSBC’s addition to its lending syndicate. It also confirmed that, since the end of June, it has conditionally raised €22.5m in new equity from existing shareholders and new investors. One51 has also sold its headquarters on Dublin’s Thomas St for €5.1m, about €1.6m more than expected, and has put a lease-back arrangement in place.