GLI Finance Limited First draw-down of the HIT funding-facility
February 28 2018 - 4:14AM
RNS Non-Regulatory
TIDMGLIF
GLI Finance Limited
28 February 2018
GLI Finance Limited
("GLI" or the "Company")
First draw-down of the HIT funding-facility
The Board of GLI and Sancus BMS Group are pleased to announce
the first significant draw-down, of GBP17.5 million, from the
Honeycomb Investment Trust ("HIT") funding facility. The provision
of the facility was announced on 29 January 2018 and is available
to further expand the activities of Sancus, the Company's property
backed lending business.
As previously announced the funding-line has a term of 3 years
and comprises a GBP50 million accordion and revolving credit
facility.
Andy Whelan, CEO of GLI and Sancus BMS Group said:
"When we announced that HIT had provided a substantial funding
line to Sancus I said that this would facilitate further expansion
of our successful property-backed lending facilities; with this
first, substantial, draw-down that process has successfully
commenced."
For further information, please contact:
GLI Finance Limited
Andy Whelan
+44 (0) 1534 708900
Liberum (Nominated Advisor & Corporate Broker)
Steve Pearce
Chris Clarke
Jonathan Wilkes-Green
+44 (0) 20 3100 2190
Instinctif Partners (PR Advisor)
Tim Linacre
+44 (0) 20 7457 2020
Inside information
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
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
END
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