RSK secures funding boost from Ares Management Corporation in largest private credit backed sustainability linked financing to date

August 11, 2021

Following the formal announcement from Ares Management Corporation (Ares), RSK is thrilled to confirm news of a monumental funding boost to the business which will create countless new opportunities as we continue to grow. 

In what is the largest private credit backed sustainability linked financing deal ever agreed on the market, funds managed by Ares’ European Direct Lending strategy are serving as sole lenders of £1 billion of available debt facilities to RSK.  

The funding boost will be used to refinance our existing credit facilities and will allow us to invest in our existing businesses, form new business lines and fuel our acquisition pipeline so we can continue to strengthen our offering.  

The new debt facilities include an annual margin review based on the achievement of sustainability targets, which are broadly focused on carbon intensity reduction and continual improvement to health and safety management and ethics. These targets are aligned to RSK’s Corporate Responsibility and Sustainability Route Map, which forms the basis of RSK’s sustainability strategy, based on five sustainability pillars and the United Nations Sustainable Development Goals.  

RSK anticipates interest savings in excess of £500,000 per year and has committed to donate a minimum of 50% of this margin benefit toward sustainability-related initiatives or charitable causes. 

“We are excited to continue to grow our longstanding relationship with RSK through this significant financing that is a first for both of our businesses and further connects us to a shared sustainability commitment,” said Michael Dennis, Co-Head of the Ares European Direct Lending strategy and Partner in the Ares Credit Group. “We have enjoyed the opportunity to be a financing provider to Alan and his team for nearly three years as they have executed on an impressive strategy to scale RSK’s capabilities and its mission of expanding ESG into its clients’ business models and practices. We are confident that the positive tailwinds for ESG across the spectrum of businesses and sectors will continue to drive demand for RSK’s service offering, and we are proud to support the company on this journey.” 

“There are very few firms like Ares that possess the scale, flexibility and sharp focus on ESG to provide a sustainabilitylinked financing of this kind. This financing demonstrates our deep commitment to driving sustainable business practices not just within our clients’ businesses, but also within our own,” said Alan Ryder, Chief Executive Officer of RSK Group. “We look forward to continuing the great relationship we have with the Ares team while responsibly expanding our services and geographic footprint as we strive to bring the most comprehensive range of sustainable solutions to our clients.” 

In addition to the £1 billion of available debt facilities, the landmark financing package also includes a £40 million revolving credit facility with NatWest Bank. Jamie Rigby, UK Financing Solutions from NatWest Bank adds, “We are delighted to continue to support RSK as a well-managed, fast growing business that is helping its clients meet their environmental and engineering challenges. We wholeheartedly support RSK linking its sustainability ambitions with its treasury funding strategy.” 

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