28 Feb 2018 09:14
GLI Finance Limited
("GLI" or the "Company")
First draw-down of the HIT funding-facility
The Board of GLI and Sancus BMS Group are pleased to announce the first significant draw-down, of £17.5 million, from the Honeycomb Investment Trust ("HIT") funding facility. The provision of the facility was announced on 29 January 2018 and is available to further expand the activities of Sancus, the Company's property backed lending business.
As previously announced the funding-line has a term of 3 years and comprises a £50 million accordion and revolving credit facility.
Andy Whelan, CEO of GLI and Sancus BMS Group said:
"When we announced that HIT had provided a substantial funding line to Sancus I said that this would facilitate further expansion of our successful property-backed lending facilities; with this first, substantial, draw-down that process has successfully commenced."
For further information, please contact:
GLI Finance Limited Andy Whelan +44 (0) 1534 708900
|
Liberum (Nominated Advisor & Corporate Broker) Steve Pearce Chris Clarke Jonathan Wilkes-Green +44 (0) 20 3100 2190
|
Instinctif Partners (PR Advisor) Tim Linacre +44 (0) 20 7457 2020
|
Inside information
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
About GLI Finance
GLI 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.