Jerrold, founded by businessman Henry Moser and backed by private equity firm Equistone, has extended its private securitisation programme, while also increasing the facility from £373m to £435m.
The new revolving facility runs until January 2017 with a further 12 months’ non-revolving commitment to January 2018. The securitisation note purchasers are Royal Bank of Scotland, Lloyds Banking Group and French investment bank Natixis.
Gary Beckett, Jerrold Holdings’ chief financial officer said:
“This important transaction secures committed funding on favourable terms to January 2018 and will support considerable growth in both our retail and commercial divisions in line with continued demand for our products.
“The increase and extension follows the successful £200m capital markets bond issuance in September 2013 and together these transactions provide the group with significantly increased capacity to support our ambitious growth plans.”