Distribution Finance Capital Holdings PLC - specialist bank providing working capital solutions to dealers and manufacturers across the UK - Secures a new GBP20 million tier two capital facility from British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank. Says the facility provides additional lending capacity to support its near-term growth plans without the need to raise additional tier one capital through an equity placing of shares. The facility has a term of 10 years and can be drawn in quarterly tranches of up to GBP5 million, with each having a fixed coupon.
"The combination of this GBP20 million commitment from British Business Investments and the GBP250 million British Business Bank Enable Guarantee allows us to significantly grow lending over the medium term and, therefore, support the working capital and borrowing needs of more customers than ever before," says Chief Executive Carl D'Ammassa.
Distribution Finance will announce its interim results on September 29.
Current stock price: 30.00 pence, untraded on Friday
12-month change: down 12%
By Heather Rydings, Alliance News senior economics reporter
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Distrib. Fin. (DFCH)