REG - Non-Standard Fin - Securitisation facility

Non-Standard FinanceAnnouncement

26/08/2020 16:10

RNS Number : 2452X
  
Non-Standard Finance PLC
  
26 August 2020
  
 

 
 
 
 
Non-Standard Finance plc
('NSF', the 'Company' or the 'Group')
 
26 August 2020
 
Securitisation facility
To improve the efficiency of its balance sheet and reduce funding costs, the Group has repaid the £15m (£10.5m net) previously drawn on its £200m securitisation facility.  As a result, the breach of certain performance triggers that arose as a direct result of COVID-19 has now been waived and the Company has agreed with the provider that, subject to their consent and the satisfaction of standard covenants for a facility of this type, the facility will remain open for future use. 
At the end of July 2020 and prior to the repayment, the Group had total cash balances of £79.8m and gross borrowings of £345.0m.  Cash balances will be reduced by a further £8.1m in August when one of the Group's regular biannual interest payments is made on the Group's £285m term loan facility.
 
For more information:
 




Non-Standard Finance plc
Peter Reynolds, Director, IR and Communications




+44 (0) 20 3869 9026
 




Maitland/AMO
Neil Bennett
Andy Donald
Finlay Donaldson


+44 (0) 207 379 5151

 
 




 
 

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