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XPS Pensions Group £100m refinancing

Numis acts as Debt Advisor to XPS Pensions Group on its £100m refinancing.

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We’re delighted to have supported XPS Pensions on this deal, which introduces two new lenders to its bank club, as well as an additional £20m committed headroom for expansion.
XPS Pensions is the largest pure pensions consultancy in the UK, specialising in pensions actuarial & consulting, investment consulting and pensions administration. The company is the only UK pensions specialist listed on the London Stock Exchange Main Market and advises more than 1,500 pension schemes. It administers pensions for over 930,000 members and employs 1,325 staff across 16 UK locations.

XPS Pensions agreed a new £100m facility with HSBC, NatWest, Bank of Ireland and Citi, and an ability to extend the facility for a further £50m. The new facility was put in place for four years from October 2021, with the option to extend for an additional year.
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"As a repeat client of the Numis Debt Advisory team, I knew they would help drive a successful process and deliver the desired outcome. Numis’ tenacity and understanding of the debt markets helped XPS Pensions secure new relationships, as well as increase our flexibility for our future growth".

Snehal Shah XPS Pensions, CFO
XPS Pensions now has a stronger bank group and substantial liquidity to enable it to continue to grow the services it provides to existing clients, execute M&A as part of its core strategy and continue to gain market share. 

"We were delighted to advise XPS Pensions again on its debt, following our role last year implementing COVID amendments to its facilities; repeat mandates like this are real evidence of client satisfaction with our nimble approach and focused execution capability. The company tasked us with finding more debt from other lenders and we delivered by running a competitive process to identify two new and very supportive banks, with plenty of capacity for future commitments".

Mike Beadle Managing Director, Investment Banking
The deal team at Numis was led by Mike Beadle, alongside Robyn Hawkins and James Pike. 

For further information, please contact your Numis representative.

Investment Banking