SQN : SQN Asset Finance lends against Snoozebox
SQN Asset Finance announced in the middle of the month that its Board had approved £95m of investments and funded £15.9m of this. The Board said this was in-line with the progress they’d anticipated when the fund listed in July 2014.
Today they have announced that they have agreed an asset finance facility worth a total of £15.6m with Snoozebox (which provides portable hotel accommodation and services). SQN say they expect the first £10m to be drawn down in the next quarter and the remainder over the next 12 months.