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On 17 February 2025, Sancus Lending Group Limited issued £1.9m of Sancus Bonds to Somerston Fintech Limited, a subsidiary of its majority shareholder, Somerston Group. These Sancus Bonds carry an 8% coupon and mature in October 2027. The issuance was made under the Somerston Junior Funding Commitment of up to £10m, with £8.1m of this commitment remaining undrawn, and the proceeds will increase capital deployed in Sancus Loans Limited.
| Date | 17 Feb 2025 |
| Time | 07:00:08 |
| Category | Capital structure |
| ID | 2614X |
17 February 2025
Sancus Lending Group Limited (the "Group" or the "Company")
Junior Funding Commitment
The Board of the Company today announces that it has issued £1.9m of Sancus Bonds to Somerston Fintech Limited ("Somerston Fintech"), a subsidiary of Somerston Group, the majority shareholder of the Company.
The issuance of Sancus Bonds, which have a coupon of 8% and mature in October 2027, has been made under the Somerston Junior Funding Commitment of up to £10m, as announced by the Company on 30 January 2025.
The proceeds of the Sancus Bond issuance will be used to increase the capital deployed in Sancus Loans Limited, a subsidiary used for one of the Group's existing funding lines, enabling it to grow the Group's loan book.
£8.1m of the Somerston Junior Funding Commitment remains undrawn.
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
Rory Mepham
Keith Lawrence
+44 (0)1481 708 280
Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Chris Clarke
William King
+44 (0) 20 3100 2000
Instinctif Partners (PR Adviser)
Hannah Scott
Augustine Chipungu
+44 (0)207 457 2020
Apex Group Ltd
Matt Falla
Nicola Momberg
+44 (0)1481 755530