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Welsh Rugby Union Appoints NatWest in £40m Support Deal

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The Welsh Rugby Union Limited (WRU) has appointed NatWest as its new banker in an agreement that will see the bank provide funding worth £40m in support of the WRU’s commitment to professional and community rugby in Wales.

The deal, which has been completed by NatWest’s Corporate Coverage and Structured Finance teams, includes revolving credit facilities to support earnings enhancing capital expenditure and ongoing working capital needs. The funding package will enable the WRU to continue to support Welsh rugby’s professional rugby strategy, which is ultimately aimed at delivering international and regional performance consistency, Pro14 success, and promoting and facilitating greater participation in the game.

In its most recent annual report the WRU announced a record turnover of £97m thanks to a 30% increase in revenue. It also successfully reduced the debt of the Principality Stadium to £6.2m.

Martyn Phillips, Chief Executive at the WRU, said the appointment of NatWest would continue to allow the WRU the platform to drive success at both domestic and international level. 

He said:

“The rugby landscape is challenging financially and we are pleased to appoint NatWest to help enable a successful and sustainable future for the game in Wales. NatWest’s support will be invaluable in ensuring the WRU is well placed to capitalise on any future development opportunities.”

Stuart Allison, Director NatWest Corporate Banking, said:

“As the game’s governing body in Wales, the WRU has worked to ensure it is in the strongest position possible to build stability and success. This new funding package gives it the agility and confidence to continue doing so in what is set to be an exciting period for Welsh rugby.”

Stefan Gunn, Director NatWest Structured Finance, added:

“The WRU is an extremely well run and professional organisation and NatWest is pleased to be supporting them and rugby in Wales. Our facilities will allow them to optimise their capital structure and, importantly, provide the flexibility needed to continue to drive growth and profitability. We are excited about the opportunities which lie ahead for the WRU and look forward to supporting them.”

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At NatWest Cymru we are passionate supporters of enterprise and offer a wide range of services to people who want to start, run and grow a business.

Business Builder is an online, on-demand resource designed to give you the right support at the right time for you and your business. There are modules, articles and case studies designed to support you to upskill and develop yourself and your business at a time and pace that suits you.

Find out more at: https://www.natwest.com/business/insights/businessbuilder.html

The NatWest Accelerator supports and empowers entrepreneurs and business owners to scale their businesses to the next level. Through our six-month, fully-funded Accelerator programme we provide wrap around support and access to expertise, removing barriers and providing more opportunities to help businesses grow.

Find out more at: https://www.natwest.com/business/business-services/entrepreneur-accelerator.html

NatWest Cymru’s Local Enterprise Manager Lee Morgan offers free support and expertise to small businesses – whether you bank with us or not. They can:

• Boost your insight and knowledge in specialist subjects by giving you access to local talks and educational events.

• Boost your connections with opportunities and partnerships. These could be within our group or through a variety of other businesses we work with – they could help you on the road to success.

• Tell you more about how NatWest business banking products and services could work for you.

Lee Morgan. [email protected]

07790 913197

 

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