Natixis, the corporate, investment and financial services arm of Groupe BPCE, the second-largest banking player in France, has been added to the Jerrold Holdings' Securitisation facility.
It will provide a £128 million facility line to Jerrold's securitisation vehicle.
Commenting on the news, Gary Beckett, Jerrold Holdings’ Group CFO said: "We are delighted to welcome Natixis to our Lender group and believe that their addition adds further strength and diversity to our funding structure. We have been impressed with their professionalism and expertise specifically in our sector. This is a positive end to a successful year for the business, having only recently undertaken our inaugural bond transaction raising £200 million in September."
Natixis replaces National Australia Bank and joins Royal Bank of Scotland Plc and Lloyds Banking Group Plc as lenders to the securitisation facility, the total size of which remains unchanged at £373 million.
In September 2013, the Manchester outfit raised £200 million of high-yield bonds to increase its funding lines, via five-year senior secured notes.
Jerrold Holdings provides funding for a host of industry lenders, including names such as; Blemain Finance, Lancashire Mortgage Corporation, Cheshire Mortgage Corporation, and Auction Finance.
Jerrold Holdings was co-founded in 1973 by Henry Moser, and currently has a loan book worth in excess of £1 billion.
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