PwC Debt & Capital Advisory advises the Welsh Rugby Union on a £60m refinancing

PwC Debt and Capital Advisory has advised the Welsh Rugby Union (WRU), the national governing body for rugby union in Wales, on a £60m refinancing, jointly underwritten by Goldman Sachs and HSBC.

The transaction refinances the WRU’s existing debt facilities including remaining Covid loans from the Welsh Government, extends the Union’s operational and financial headroom, and provides funding to support planned stadium improvements as part of the next phase of the WRU’s long-term strategy. The new financing strengthens the WRU’s capital structure and provides increased flexibility to support the sustainable development of professional and community rugby across Wales.

Founded in 1881, the Welsh Rugby Union is responsible for the governance, development and promotion of rugby union in Wales, overseeing the professional game, the national men’s and women’s teams, and the community rugby pathway. The WRU also owns and operates the Principality Stadium, one of the world’s leading multi-purpose sporting venues and a central pillar of Welsh sport and culture.

PwC supported the WRU throughout the process, working closely with management and stakeholders to structure a financing solution aligned with the Union’s strategic priorities, balancing near-term liquidity needs with long-term investment objectives.

PwC deal team

• PwC UK Debt and Capital Advisory
  • Adam Horey (Lead)
  • Leo Smith
  • Keira Leszczynski
  • Steven Asquith