REG - Sancus Lending Group - Pollen Street Facility and Junior Funding

Sancus LendingAnnouncement

20/06/2025 07:00

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RNS Number : 6701N  Sancus Lending Group Limited  20 June 2025

20 June 2025

 

Sancus Lending Group Limited

("Sancus" the "Company" or the "Group")

 

Pollen Street Facility and Junior Funding

 

Sancus Lending Group Limited (AIM: LEND) is is pleased to announce that it
has signed legal agreements (the "Agreements") that will increase the size and
extend the tenor of the credit facility (the "Facility") it has with Pollen
Street Capital via its subsidiary, Sancus Loans Limited.   The Agreements
will increase the capacity of the Facility from £125 million
to up to £200 million and see the maturity of the Facility extended such
that it will expire at least five years from the date of the Agreed Terms,
being not before 19 June 2030. The Facility will provide
significant additional funding capacity as the Company seeks to grow its
property-backed lending book across the United Kingdom, Ireland & the
Channel Islands.

 

In order to support this growth, the Company also announces that it
has issued £1.5 million of preference shares in Sancus Loans Limited
to Somerston Fintech Limited, a subsidiary of Somerston Group, the majority
shareholder of the Company. The issue of these preference shares, which have
a non-cash, cumulative coupon of 15% and mature in November 2026, has been
made under the Somerston Junior Funding Commitment of up to £10 million,
details of which were announced by the Company on 30 January 2025. Following
the preference share issue, £5.6 million of the Somerston Junior Funding
Commitment remains undrawn. This preference share issue will increase the
capital deployed in Sancus Loans Limited used for one of the Group's
existing funding lines, enabling it to grow the Group's loan book.

 

Capitalised terms not defined in this announcement have the meanings given to
them in the Company's announcement of 30 January 2025.

 

For further information, please contact:

 

 Sancus Lending Group Limited                           +44 (0)1481 708280

 Rory Mepham, Chief Executive Officer

 Keith Lawrence, Chief Financial Officer

 Shore Capital (Nominated Adviser and Broker)           +44 (0)20 7408 4050

 Tom Griffiths / George Payne (Corporate Advisory)

 Guy Wiehahn (Corporate Broking)

 Instinctif Partners (PR Adviser)                       +44 (0)20 7457 2020

 Hannah Scott

 Augustine Chipungu

 Apex Fund and Corporate Services (Guernsey) Limited    +44 (0)20 3530 3696

 Nikita Pingale

 Aoife Bennett

 

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