← Deal Pipeline

Thornfield Term Loan B

BBB

Thornfield Industrials plc · Industrials

Commitment

£85m

Drawn

£62m

LTV

53%

Maturity

2029-06

Lead

Priya N.

Covenants

Covenant

Threshold

Current

Status

Net Leverage Ratio

≤ 4.5x

3.8x

Compliant

Interest Coverage

≥ 2.0x

2.7x

Compliant

Documents

📄

Credit Memo — Q4 2025.pdf

Priya Nair · 2026-01-14

📊

Financial Model v3.2.xlsx

James Whitfield · 2026-01-09

⚖️

Legal Opinion — Thornfield.pdf

Tomás Ferreiro · 2024-07-22

Drawdown History

£40m2024-08-12

Acquisition financing

Approved by Oliver Brennan

£22m2025-11-03

Capex facility draw

Approved by Priya Nair

Audit Log

Priya Nair31 Mar 2026, 09:12

Covenant test filed — all covenants compliant

Oliver Brennan03 Nov 2025, 14:44

Drawdown approved — £22m capex draw