Distribution Finance Cap. Hldgs PLC Tier 2 Capital Facility and Notice of Results (7861L)
08 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMDFCH
RNS Number : 7861L
Distribution Finance Cap. Hldgs PLC
08 September 2023
8 September 2023
Distribution Finance Capital Holdings plc
("DF Capital" or the "Company" together with its subsidiaries
the "Group")
GBP20m Tier 2 Capital Facility
and
Notice of results for six months ended 30 June 2023.
Distribution Finance Capital Holdings plc, the specialist bank
providing working capital solutions to dealers and manufacturers
across the UK, today announces that it has secured a new GBP20m
Tier 2 Capital Facility from British Business Investments, a
wholly-owned commercial subsidiary of the British Business
Bank.
The facility provides additional lending capacity to support the
Group's near-term growth plans without the need to raise additional
Tier 1 capital through an equity placing of new shares.
The facility, which has a term of 10 years, can be drawn in
quarterly tranches of up to GBP5m with each tranche having a fixed
coupon.
Alongside the previously announced ENABLE Guarantee, provided by
the British Business Bank, the Group now has aggregate capacity to
grow its loan book to more than GBP800m, if the guarantee is fully
upsized from the current GBP250m to GBP350m.
Carl D'Ammassa, Chief Executive, commented : "This is exciting
news for the Group. Obtaining non-dilutive Tier 2 capital has been
an important component of our near-term strategic plan and our
ambitions to continue to scale the bank. The combination of this
GBP20m commitment from British Business Investments and the GBP250m
British Business Bank ENABLE Guarantee allows us to significantly
grow lending over the medium term and, therefore, support the
working capital and borrowing needs of more customers than ever
before."
Results for six months ended 30 June 2023
The Company intends to announce its results for the six months
ended 30 June 2023 on 29 September 2023, including an update on the
refinance and restructure of the single large arrears case as
communicated with the Group's FY22 results on 19 April 2023.
For further information contact:
Distribution Finance Capital Holdings
plc
Carl D'Ammassa - Chief Executive Officer
Kam Bansil - Head of Investor Relations +44 (0) 161 413 3391
http://www.dfcapital-investors.com +44 (0) 7779 229508
Investec Bank plc (Nomad and Broker) +44 (0) 207 597 5970
David Anderson
Bruce Garrow
Harry Hargreaves
Maria Gomez de Olea
Liberum Capital Limited (Joint Broker) +44 (0) 203 100 2000
Chris Clarke
Lauren Kettle
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END
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