26th Aug 2020 16:24
Non-Standard Finance PLC - subprime lender - Repays GBP15 million previously drawn on GBP200 million securitisation facility to improve balance sheet efficiency and reduce funding costs. Breach of certain performance triggers that arose as a direct result of Covid-19 has been waived and the company has agreed with the lender that the facility will remain open for future use. Had total cash balances of GBP79.8 million and gross borrowings of GBP345.0 million as at the end of July. Cash will reduce by GBP8.1 million in August when one of the company's regular biannual interest payments is made on GBP285 million term loan facility.
Current share price: 6.23 pence
Year-to-date change: down 72%
By Tapan Panchal; [email protected]
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