We are pleased to announce the arrangement of a £15 million secured medium term note (“MTN”) programme.
LGB Capital Markets completed the arrangement of the MTN programme and a £1.5 million first issue of notes under it in July 2022. The programme will provide funding subordinated to Shire’s senior wholesale funders to enable the company to further invest in its business platforms, operations, own book, and other opportunities as they arise.
“We are delighted to be strengthening our funding position with the £15m MTN Programme. As a company that strives to break barriers and develop innovative finance solutions, we see this as an important source of funding to increase our working capital, invest in new opportunities and continue to deliver a market-leading service to the UK SME market. We have been very impressed with LGB through the raising of the first £1.5m and we look forward to building our relationship further as we continue working together.”
Despite the current market backdrop, the modest size of the first issue resulted in an inaugural book closing at record speed and oversubscription. Investors were impressed by the strength and breadth of Shire’s management team and the company’s progressive, technology and values led approach, and the company looks forward to engaging with new investors through regular note issuance.
To learn more about Shire Leasing and other key milestones, visit our About Us page.