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")

 

£20m 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 £20m 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 £5m 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 £800m, if the guarantee is fully upsized from the current £250m to £350m.

 

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 £20m commitment from British Business Investments and the £250m 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

http://www.dfcapital-investors.com

 

 

+44 (0) 161 413 3391

+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




 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDBCGDCLSGDGXR