GLI Finance Limited Investment in second securitised loan note SPV (7639D)
02 May 2017 - 4:00PM
UK Regulatory
TIDMGLIF
RNS Number : 7639D
GLI Finance Limited
02 May 2017
2 May 2017
GLI Finance Limited ("GLI" or the "Company")
Investment in second securitised loan note SPV
GLI announces that Sancus BMS Group Limited ("Sancus"), a wholly
owned subsidiary of GLI, has subscribed for GBP3 million of
redeemable preference shares in a newly established special purpose
vehicle (the "SPV"), which was satisfied by the transfer of cash to
the SPV.
The SPV has simultaneously raised a further GBP11.45 million
through the issue of senior notes to external investors, closing
its fund raising on 31 March 2017. The senior notes were admitted
to the Official List of The International Stock Exchange (formerly
the Channel Islands Securities Exchange) on 13 April 2017.The funds
in the SPV will be used to make loans which will be arranged by
Sancus and its subsidiaries.
Over the two year life of the SPV, Sancus's return is expected
to be materially comparable to that which it currently earns on its
lending business.
The SPV's loan portfolio will be managed by Amberton Asset
Management Limited.
Commenting on the investment, Andy Whelan, the Chief Executive
of GLI and Sancus said:
The establishment of this series of loan note SPVs is an
important part of our funding strategy to expand the lending
operations of Sancus. We were pleased to see the continuing
interest from the market to participate in this second SPV, and
through this mechanism, in the loans arranged by Sancus.
For further information, please contact:
Enquiries
GLI Finance Limited
Andy Whelan
+44 (0)1534 708900
Liberum Capital (Nominated Adviser and Broker)
Steve Pearce
Chris Clarke
Jonathan Wilkes-Green
+44 (0) 207 100 2000
Instinctif Partners (PR Advisor)
Tim Linacre/Nick Woods
+44 (0)207 457 2020
About GLI Finance
GLI is an AIM listed innovative alternative finance business,
which owns a niche SME lender, Sancus BMS that operates in 6
jurisdictions - UK, Ireland, Jersey, Guernsey, Gibraltar and the
Isle of Man, and a portfolio of emerging FinTech SME-focussed
lending platforms that are located on 3 continents.
This information is provided by RNS
The company news service from the London Stock Exchange
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