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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gli Finance Limited | LSE:GLIF | London | Ordinary Share | GB00B0CL3P62 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.62 | 2.60 | 3.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCUKUSRWNABAAR
(END) Dow Jones Newswires
July 20, 2018 02:00 ET (06:00 GMT)
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