Distribution Finance Cap. Hldgs PLC Increase in ENABLE Guarantee commitment (7046J)
18 Août 2023 - 8:00AM
UK Regulatory
TIDMDFCH
RNS Number : 7046J
Distribution Finance Cap. Hldgs PLC
18 August 2023
18 August 2023
Distribution Finance Capital Holdings plc
("DF Capital" or the "Company" together with its subsidiaries
the "Group")
Increase in ENABLE Guarantee commitment
Distribution Finance Capital Holdings plc, the specialist bank
providing working capital solutions to dealers and manufacturers
across the UK, is pleased to announce that it has agreed with the
British Business Bank to increase the ENABLE Guarantee from the
initial GBP175m agreed in January 2023 to GBP250m effective from 31
August 2023. As previously announced, this may be increased further
up to GBP350m in the future.
This ENABLE Guarantee commitment provides the Group with
incremental capacity to scale its loan book without the need for
additional Tier 1 equity capital by up to GBP105m on the basis of
this GBP250m facility and up to GBP150m if the facility is
increased to GBP350m.
Additionally, the Group is well progressed with its plans to
raise non-dilutive Tier 2 capital to further support its product
diversification and medium-term growth strategy which, together
with the ENABLE Guarantee, would allow the loan book to reach in
excess of GBP800m without requiring additional Tier 1 capital.
Carl D'Ammassa, Chief Executive, commented: "This additional
support from the ENABLE Guarantee further strengthens our
relationship with the British Business Bank, being a key foundation
of our capital strategy, and supports our growth ambitions into
2024."
For further information contact:
Distribution Finance Capital Holdings
plc
Carl D'Ammassa - Chief Executive Officer +44 (0) 161 413 3391
Kam Bansil - Head of Investor Relations +44 (0) 7779 229508
http://www.dfcapital-investors.com
Investec Bank plc (Nomad and Joint
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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