Business
Launch of third securitised loan note SPV
Launch of third securitised loan note SPV.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 7471R GLI Finance Limited 25 September 2017 \n\n25 September 2017\nGLI Finance Limited\n(\"GLI\" or the \"Company\")\n \nLaunch of third securitised loan note SPV\nGLI announces that Sancus BMS Group Limited (\"Sancus\"), a wholly owned subsidiary of GLI, has today launched a third newly established special purpose vehicle (the \"SPV\") with a 14 month life. The initial raise is £3.7 million through the issue of senior notes entirely to external investors with a planned total raise of £15 million. It is likely that further draws of funds will be made in the next 3 months. The funds in the SPV will be deployed into loans which will be arranged by Sancus and its subsidiaries. Sancus is assuming a 20% first loss position.\nThe SPV's loan portfolio will be managed by Amberton Asset Management Limited. \nCommenting on the investment, Andy Whelan, the Chief Executive of GLI and Sancus said:\n\"I am delighted to confirm the launch of this third SPV. The establishment of this series of loan note SPVs is an important part of our funding strategy to expand further the lending operations of Sancus. It is particularly pleasing to see the continuing interest from the market to participate in this third SPV, and through this mechanism, in the loans arranged by Sancus.\"\n \n \nFor further information, please contact:\n \nGLI Finance Limited\nAndy Whelan\n+44 (0)1534 708900\n \nLiberum Capital Limited (Nominated Adviser and Corporate Broker)\nSteve Pearce\nChris Clarke\nJonathan Wilkes-Green\n+44 (0) 207 100 2000 \n \nInstinctif Partners (PR Advisor)\nTim Linacre/Ambrose Fullalove\n+44 (0)207 457 2020\n \nAbout GLI Finance\nGLI 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. \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLAMITMBJTBJR\n ","length":3188,"tagName":"div"}]