GLI Finance, headed up by CEO Andy Whelan (pictured), has confirmed that it has now entered entered into a new 1 year loan, for £14.86m, at an interest rate of 8.75%. The company say that it has repaid its existing £30m loan facility with Sancus, which had been incurring an interest rate of 11%. GLI Finance’s Board say that it is their intention to refinance this new loan prior to its maturity.
GLI Finance announces a new £15m credit facility and repays the £30m Sancus loan : GLIF