6th Nov 2020 22:01
Distribution Finance Capital Holdings PLC - bank providing personal savings products - Agrees with its senior mezzanine lenders, Citibank and funds affiliated with Ares Management Corp, the repayment of its current wholesale funding facility on November 17, in line with the terms of the facility. The outstanding facility balance is expected to be GBP30 million, before any contractual customer loan repayments are deducted.
Additionally, Distribution Finance Capital says Ares has noted to the company that, in line with the contractual terms agreed at the signing of the mezzanine facility in June 2019, Ares has a right of first refusal until June 2022 in respect of the on-going provision of wholesale funding, should it be required.
Current stock price: 38.60 pence
Year-to-date change: down 58%
By Evelina Grecenko; [email protected]
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