Metro Bank provides £7.7m funding to Downing Pub EIS One Limited following merger

London’s Metro Bank has provided Downing Pub EIS One Limited, formed from the merger of Pabulum Pubs and Augusta 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.

Craig Donaldson, CEO at Metro Bank, said: “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 Crosswell, were 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.”

Steven Kenee, partner at Downing LLP, added: “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.”

Metro Bank offers tailored commercial banking services, including a full range of lending and cash management solutions.

Downing Pub EIS One Limited now owns nine London freeholds pubs: Balham Bowls Club, The Forest Tavern, Walker Briggs, Earl Haig, Hagen & Hyde, Royal Albert, The Effra Social, John The Unicorn and Knowles of Norwood, which are managed by Antic London.