6th Aug 2019 09:37
(Alliance News) - Investment management firm VPC Specialty Lending Investments PLC on Tuesday said it has amended its financing agreement with existing portfolio company Oakam Ltd, a UK-based lender.
The company also said Oakam has raised GBP6.0 million through its funding vehicle Akrod Ltd. The funding will be used to support VPC Specialty's borrowing base and provide capital for growth initiatives
Oakam exited administration in June following approval of its Company Voluntary Arrangement with unsecured creditors, and subsequent confirmation from the Financial Conduct Authority to re-engage in consumer lending.
Shares in VPC were trading 1.3% lower at 78.00 pence each on Tuesday in London.
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