GLI Finance Limited Launch of fourth securitised loan note SPV (2123V)
July 20 2018 - 2:00AM
UK Regulatory
TIDMGLIF
RNS Number : 2123V
GLI Finance Limited
20 July 2018
GLI Finance Limited
("GLI" or the "Company")
Launch of fourth securitised loan note SPV
GLI announces that Sancus BMS Group Limited ("Sancus"), a wholly
owned subsidiary of GLI, has launched Sancus Loan Note 4. A new
special purpose vehicle (the "SPV") has been established with a 15
month life. The initial raise is GBP5.85 million through the issue
of senior notes entirely to external investors, and it is likely
that further draws of funds will be made in the next 3 months, to
reach a maximum total raise of GBP15 million. The funds in the SPV
will be deployed into loans which will be arranged by Sancus and
its subsidiaries. As part of the loan note, investors will be paid
interest monthly at a rate of 6% annualised and Sancus is assuming
a 20% first loss position.
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:
"I am delighted to confirm the launch of this fourth SPV. Sancus
is committed to ensuring that it has numerous sources of funding
available to meet its growing loan origination/book and the Loan
Notes are complimentary to its existing co-funder network and its
GBP50m credit facility from Honeycomb Investment Trust. It is
particularly pleasing to see the continuing interest from the
market to participate in these Loan Notes, and through this
mechanism, in the loans arranged by Sancus."
For further information, please contact:
GLI Finance Limited
Andy Whelan
+44 (0)1534 708900
Liberum Capital Limited (Nominated Adviser and Corporate
Broker)
Steve Pearce
Chris Clarke
Trystan Cullen
+44 (0) 20 3100 2190
Instinctif Partners (PR Advisor)
Tim Linacre/Ambrose Fullalove
+44 (0)207 457 2020
LEI: 213800S2XOO3YSEGCA26
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END
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