SANCUS LENDING GROUP LIMITED

Management Reports • Jan 29, 2018

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RNS Number : 1257D

GLI Finance Limited

29 January 2018

GLI Finance Limited

("GLI" or the "Company")

Repayment of Sancus Loan Note 1

GLI announces that Sancus BMS Group Limited ("Sancus"), a wholly owned subsidiary of GLI, will voluntarily repay the holders of its special purpose vehicle known as Sancus Loan Note 1 (the "SPV") using the new funding facility announced earlier today.

The SPV was launched in November 2016 with a 2 year life and £17.55m in size; £7.5m of which were redeemable preference shares subscribed for by Sancus. £5m of the c.£7.5m repaid to Sancus, will be used as security under the terms of the new funding facility. 

Over the 14 month life of the SPV, the SPV had no defaults and performed fully in line with expectations.  The SPV's loan portfolio was managed by Amberton Asset Management Limited. 

Commenting on the repayment, Andy Whelan, CEO of GLI and Sancus said:

"The recently announced funding line will be utilised for larger ticket size loans and this series of loan note SPVs continues to be an important part of our funding strategy to expand the lending operations of Sancus Group. We will continue to offer these products to noteholders via Sancus Loan Note 3 and potential future issues. We thank Noteholders for their support and we will continue to deliver solutions to our clients with attractive risk adjusted returns." 

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. 

This information is provided by RNS

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