Honeycomb provides funding to GLI Finance – The board of GLI Finance has announced that the company has signed a new funding facility with Honeycomb Investment Trust. The funding line has a term of 3 years and comprises a GBP50 million accordion and revolving credit facility, of which GBP20 million will be drawn and deployed immediately. The facility will be used to expand further the activities of Sancus, the GLI’s property backed lending business.
Andy Whelan, CEO of GLI said: “I am delighted that Honeycomb have provided a substantial funding line to the Company. This will facilitate further expansion of our successful property-backed lending facilities through the Sancus Group of companies. Establishing such a facility has been one of our key stated objectives and is additional testament to the strength of the Sancus offering and our rigorous credit management. ”
Howard Garland, Partner of Pollen Street Capital, the investment manager of Honeycomb Investment Trust plc said “We are delighted to provide this funding line to GLI for use within their Sancus business. We have been impressed with their business model, the discipline they have shown in their credit policy, and the opportunities available to them.”
HONY / GLIF : Honeycomb provides funding to GLI Finance