The group, which was formed following the merging of Pabulum Pubs and Augusts Pub, will use the funding to buy shares from investors wanting to exit the business.
Metro Bank has provided Downing Pub EIS One Limited, formed from the merger of Pabulum Pubs and Augusts Pub in October, with £7.7m of funding.
The capital will be used to facilitate the exit of investors who wish to relinquish their investment following the merger, and allow the remainder of investors to roll their funds into Downing Pub EIS One Limited.
Steven Kenee, a partner at Downing LLP, said: “We’re pleased to have completed our transaction with Metro Bank. We have been supported throughout the process and continue to be impressed with the services provided. We look forward to working with them in the future and building on our relationship.”
Craig Donaldson, CEO at Metro Bank added: "At Metro Bank, we’re committed to supporting the hospitality sector with deals of varying size, across the country. Our team of hospitality experts, led by Steve Croswell, we’re delighted to assist Downing and its nine London-based pubs. Downing is an exciting new venture and we look forward to helping the business to achieve its growth ambitions.”
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