Business
Repayment of Sancus Loan Note 1
Repayment of Sancus Loan Note 1.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 1257D GLI Finance Limited 29 January 2018 \n\nGLI Finance Limited\n(\"GLI\" or the \"Company\")\n \nRepayment of Sancus Loan Note 1\nGLI announces that Sancus BMS Group Limited (\"Sancus\"), a wholly owned subsidiary of GLI, will voluntarily repay the holders of its special purpose vehicle known as Sancus Loan Note 1 (the \"SPV\") using the new funding facility announced earlier today.\nThe SPV was launched in November 2016 with a 2 year life and £17.55m in size; £7.5m of which were redeemable preference shares subscribed for by Sancus. £5m of the c.£7.5m repaid to Sancus, will be used as security under the terms of the new funding facility. \nOver the 14 month life of the SPV, the SPV had no defaults and performed fully in line with expectations. The SPV's loan portfolio was managed by Amberton Asset Management Limited. \nCommenting on the repayment, Andy Whelan, CEO of GLI and Sancus said:\n\"The recently announced funding line will be utilised for larger ticket size loans and this series of loan note SPVs continues to be an important part of our funding strategy to expand the lending operations of Sancus Group. We will continue to offer these products to noteholders via Sancus Loan Note 3 and potential future issues. We thank Noteholders for their support and we will continue to deliver solutions to our clients with attractive risk adjusted returns.\" \n \nFor further information, please contact:\n\n\n\n\nGLI Finance Limited\nAndy Whelan\n+44 (0) 1534 708900\n \n\n\n\n\nLiberum (Nominated Advisor & Corporate Broker)\nSteve Pearce\nChris Clarke\nJonathan Wilkes-Green\n+44 (0) 20 3100 2190\n \n\n\n\n\nInstinctif Partners (PR Advisor)\nTim Linacre\n+44 (0) 20 7457 2020\n \n\n\n\n\nInside information\nThis announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.\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  ...