RE: Take this bag of snakes and lay them out straight30 Oct 2020 09:35
1. Securitised Note Issuance (through StormHarbour Securities)
As planned, the Company has received offers, subject to contract, from a number of large, global institutional investors, to provide funding, in the form of securitisation notes, in order to monetise more than €300m of inventory. There has been strong demand from a number of investment funds (including private equity and multilateral financial institutions supporting businesses that are promoting post COVID growth) which are individually requesting exclusivity for the securitisation notes issuance, and which are also remaining available for strategic support to the Company for the next funding rounds. The Company is currently analysing whether to syndicate this first securitisation issuance or work on an exclusive basis with one of the Funds mentioned above. Meanwhile SYME is keen to complete the signing of binding contracts with regard to the Client companies forming part of the securitisation portfolio by the end of September.