ReFuels has announced the signing of a new £25m debt facility for CNG Fuels which will support the next leg of the company’s station rollout. The new facility has been provided by Foresight Group with a 9.5% fixed rate and flexible prepayment terms given the nature of the loan we consider this to be reasonable. Funds will be used to support three new stations which are expected to unlock new customer orders and allow for ReFuels internal cashflows to support development of a further six stations until the end of 2028. This is a positive conclusion to the debt process and leaves the business funded and ready to execute on the next stage of its growth plan.
