The original £75m facility will be upped to £125m and extended to 23rd November 2026, according to a trading update.
The facility renegotiation is set to provide additional funding capacity as the company seeks to grow its lending book.
- What does the specialist finance industry need in 2023 and beyond?
- Sancus appoints group credit director
- Sancus appoints managing director
The deal will see Somerston Group, Sancus’ largest shareholder, hold 50.44% of the company’s voting share capital through the subscription of additional new bonds and warrants by Somerston Fintech.
An application will be made to the London Stock Exchange for the admission of new shares to trade on AIM, expected to commence on 30th November 2022.
Leave a comment