Amey has completed a £70 million refinancing deal designed to strengthen its delivery of defence equipment and facilities services to the Ministry of Defence (MOD).
The agreement, finalised with HSBC and NatWest, establishes long-term funding through to June 2030 and marks a key milestone in the company’s ongoing strategy to expand within the defence sector.
The new asset-based lending facility will provide financial stability and capacity for investment across Amey’s MOD contracts, including the MITER programme, which supports the maintenance and readiness of the UK’s defence equipment fleet across bases and deployed operations. Amey said the deal would “provide the headroom to deliver outstanding performance to the MOD” and enable further investment in upgraded assets and infrastructure.
Chief Finance Officer Andrew Nelson described the refinancing as “a significant milestone for Amey and a strong vote of confidence in our strategy”, adding that the funding “ensures the MOD’s equipment fleet remains mission-ready every day”.
The transaction was supported by an extensive network of financial and legal advisors. HSBC and NatWest acted as lending and hedging banks, with KPMG advising Amey on debt structure. Osborne Clarke and CMS led client-side legal work, while Norton Rose Fulbright and Lambert Smith Hampton represented the lenders. Hedging strategy was managed by Chatham Financial.
Amey said the arrangement reinforces its position as a “trusted partner to the MOD” and supports its long-term aim of enhancing operational efficiency and resilience across UK defence infrastructure.
Image Graham Richardson from Plymouth, England, CC BY 2.0, via Wikimedia Commons
