IG Design has announced a successful and favourable outcome to the refinancing of its lending facilities. The new arrangement replaces the previous revolving credit facility (RCF) agreement from 2019, which was subsequently renegotiated in 2022. The new three-year facility is for $125m through an Asset Backed Lending (ABL) structure. This flexes in line with the group’s US receivables and provides ample headroom to finance the key working capital needs over the duration of the facility. In a world of rising central bank interest rates, the lower quantum of the facility coupled with the lower margin than the previous facility should help manage the direct finance charges associated with the facility, as well as provide savings in non-utilisation fees.