29 Jan 2018 07:00
GLI Finance Limited
("GLI" or the "Company")
New Funding Facility
The Board of GLI are pleased to announce the signing of a new funding facility with Honeycomb Investment Trust plc ("HIT"). The funding line has a term of 3 years and comprises a £50 million accordion and revolving credit facility, of which £20 million will be drawn and deployed immediately. The facility will be used to expand further the activities of Sancus, the Company's property backed lending business.
Andy Whelan, CEO of GLI said:
"I am delighted that HIT have provided a substantial funding line to the Company. This will facilitate further expansion of our successful property-backed lending facilities through the Sancus Group of companies. Establishing such a facility has been one of our key stated objectives and is additional testament to the strength of the Sancus offering and our rigorous credit management. "
Howard Garland, Partner of Pollen Street Capital, the investment manager of Honeycomb Investment Trust plc said
"We are delighted to provide this funding line to GLI for use within their Sancus business. We have been impressed with their business model, the discipline they have shown in their credit policy, and the opportunities available to them."
For further information, please contact:
GLI Finance Limited Andy Whelan +44 (0) 1534 708900
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Liberum (Nominated Advisor & Corporate Broker) Steve Pearce Chris Clarke Jonathan Wilkes-Green +44 (0) 20 3100 2190
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Instinctif Partners (PR Advisor) Tim Linacre +44 (0) 20 7457 2020
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Inside information
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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.