Hampshire Trust Bank (HTB) Specialist Business Finance division today announces the completion of a £990,000 asset refinancing facility for a South Wales group of marine companies.
The Structured Asset Finance team used the existing fixed assets of the group to consolidate their current debt facilities, whilst taking a second charge over the freehold of the marinas. The facility delivers an annual saving of £300,000 which significantly improves cashflow and enabled the group to make considerable further investment.
Robert Still and Richard O’Brien joined HTB in November to develop the structured asset finance business as the division refocussed its proposition on niche asset classes. The team re-structures business debts with a typical ticket size ranging from £250k to £2.5m.
Robert Still, head of business development, Structured Asset Finance said: “This facility highlights the high-level transactional skills at HTB when dealing with structured and complex cases.”
The customer added: “We are delighted to have agreed facilities with HTB, which together with our key funding partners, provides the group with conservative terms combined with the flexibility to respond to market opportunities. Robert and the team at HTB quickly demonstrated a deep understanding of our business and shared our enthusiasm for a long-lasting relationship.”