As a result, the facility — which has been the group’s principal source of debt funding since 2015 — has seen its maturity extended to December 2030.

This is Hill Group’s third refinancing package and involves continued long-term support from banking partners HSBC, Lloyds, NatWest and Santander.

The increased facility is expected to provide long-term funding certainty and double the size of the business to £2.3bn by 2030.

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 “This third refinancing of our revolving credit facility is a landmark moment for Hill, with an increased commitment from our long-standing lending partners,” said Tony Parker, group finance director at The Hill Group.

“HSBC, Lloyds, NatWest and Santander have supported the business since 2015, when we first raised £120m, and we are grateful for their continued backing as we deliver our growth ambitions through to 2030.

“We would also like to thank NatWest and Lloyds for their roles as lead arranger and ESG co-ordinator, respectively.”