Distribution Finance agrees waiver extension with lenders to December
Distribution Finance has agreed a further extension to its temporary waiver with its senior and senior mezzanine facility lenders, it announced on Monday.
The AIM-traded company said the waiver had now been extended until the facility expiry date on 12 December.
At that point, the firm said it intended to support new business lending by raising retail deposits.
“The lenders are supportive of the company's transition in funding strategy, following the group's successful banking licence application as announced on 29 September,” the board said in its statement.
“The lenders retain the right during the waiver period to review, on a monthly basis, the performance of the portfolio in line with the terms of the facility and previously granted waivers.”
At 1128 BST, shares in Distribution Finance Capital Holdings were up 3.25% at 55.9p.