Issa brothers and Andy Murray-backed Castore valued at 拢750m after 拢50m boost

Castore has been valued a £750m after it received a £50m boost.

The Manchester-headquartered sportswear brand has agreed a secured revolving credit facility from three banks.

The company, which is backed by the likes of tennis star Andy Murray and the Asda-owning billionaire Issa brothers, said the facility has an initial maturity of three years.

Castore has the ability to extend the facility by an additional year and increase it to £75m.

Andy Murray is an investor in Castore(Image: PA)

The business said the facility will give it additional levels of liquidity to "further support the group's strategic growth ambitions" and lengthen the maturity of its committed debt facilities, "enhancing Castore's financial flexibility".

The company also said it will allow it to broaden its banking partners by establishing relationships with BNP Paribas, HSBC 海角视频 Bank plc and Silicon Valley Bank 海角视频.

Castore co-founder Tom Beahon said: "We are delighted to have successfully raised new debt facilities with three global banking partners.

"The increased facility is a strong endorsement of Castore’s exceptional performance in recent years, as well as our business model and strategy.

"The additional liquidity will allow us to further accelerate and internationalise our growth trajectory as we continue to build Castore into the leading premium sportswear brand in the world."

The billionaire Issa brothers are investors in Castore(Image: Accrington Observer)

Castore was advised by Rothschild & Co on its refinancing. Addleshaw Goddard LLP acted for the company and Eversheds Sutherland LLP for the lenders.

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Issa brothers and Andy Murray-backed Castore valued at 拢750m after 拢50m boost