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Securitisation facility

26 Aug 2020 16:09

RNS Number : 2452X

Non-Standard Finance PLC

26 August 2020

Non-Standard Finance plc

('NSF', the 'Company' or the 'Group')

26 August 2020

Securitisation facility

To improve the efficiency of its balance sheet and reduce funding costs, the Group has repaid the £15m (£10.5m net) previously drawn on its £200m securitisation facility. As a result, the breach of certain performance triggers that arose as a direct result of COVID-19 has now been waived and the Company has agreed with the provider that, subject to their consent and the satisfaction of standard covenants for a facility of this type, the facility will remain open for future use.

At the end of July 2020 and prior to the repayment, the Group had total cash balances of £79.8m and gross borrowings of £345.0m. Cash balances will be reduced by a further £8.1m in August when one of the Group's regular biannual interest payments is made on the Group's £285m term loan facility.

For more information:

Non-Standard Finance plc

Peter Reynolds, Director, IR and Communications

+44 (0) 20 3869 9026

Maitland/AMO

Neil Bennett

Andy Donald

Finlay Donaldson

+44 (0) 207 379 5151

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END

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