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LONDON - Sancus Lending Group Limited (AIM:LEND) has signed agreements to increase its credit facility with Pollen Street Capital from £125 million to up to £200 million, according to a press release statement issued Friday.
The agreements extend the facility’s maturity date to at least June 19, 2030, providing the company with a minimum five-year funding horizon. The expanded facility aims to support Sancus’s property-backed lending operations across the United Kingdom (TADAWUL:4280), Ireland, and the Channel Islands.
In a related development, Sancus has issued £1.5 million in preference shares through its subsidiary, Sancus Loans Limited, to Somerston Fintech Limited, a subsidiary of the company’s majority shareholder, Somerston Group. These preference shares carry a 15% non-cash, cumulative coupon and will mature in November 2026.
The preference share issuance falls under the previously announced Somerston Junior Funding Commitment of up to £10 million from January 30, 2025. Following this transaction, £5.6 million of the commitment remains undrawn.
The additional capital deployed in Sancus Loans Limited is intended to support one of the group’s existing funding lines and facilitate loan book growth.
Sancus Lending Group is listed on London’s AIM market under the ticker LEND.
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