5th Jan 2017 14:55
LONDON (Alliance News) - BP Marsh & Partners PLC on Thursday said it expects the loan it made to Hyperion Insurance Group Ltd to be fully repaid by the end of January, stating there are "sufficient opportunities to reinvest these funds advantageously elsewhere".
The private equity investor, which primarily focuses on investing in early stage financial services firms, provided Hyperion with a GBP6 million loan in May 2013 that carries an interest rate of 7.5% per year.
BP Marsh said it expects the loan to be repaid in full before the end of the month, with repayment originally due in October 2017.
BP Marsh shares were trading 1.7% higher on Thursday afternoon at 210.0 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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