26th May 2020 14:47
(Alliance News) -Â City stockbroker finnCap PLC on Tuesday said its current financial year has started well in both its divisions even though a number of merger & acquisition deals have been delayed.
The firm said it is encouraged by the remaining pipeline of transactions for the first quarter.
It also said it has finalised the financing for the fit out of its new offices. Cavendish Corporate Finance Ltd entered into a GBP1.8 million loan agreement with Natwest with a fixed interest rate of 3.65% repayable in equal monthly installments over 5 years.
finnCap acquired M&A advisor Cavendish in 2018.
"The group and its subsidiaries have given a charge over their assets and issued cross guarantees as security for the loan which is also subject to covenants related to the trading performance of Cavendish Corporate Finance," said finnCap.
finnCap shares were down 3.2% at 15.00 pence in London on Tuesday.
By Lucy Heming;Â [email protected]
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