REG - Distribution Finance - ENABLE guarantee extended

Distribution Finance Capital HoldingsAnnouncement

15/07/2024 07:00

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RNS Number : 2703W  Distribution Finance Cap. Hldgs PLC  15 July 2024

 

15 July 2024

 

Distribution Finance Capital Holdings plc

("DF Capital" or the "Company" together with its subsidiaries the "Group")

 

 

British Business Bank ENABLE Guarantee Extended

 

 

Distribution Finance Capital Holdings plc, a specialist bank providing working
capital solutions to dealers and manufacturers across the UK, is pleased to
announce that it has signed an agreement with British Business Bank to
increase its ENABLE Guarantee from £250m to the fullest extent of £350m.

The increased ENABLE Guarantee further improves the Group's capital efficiency
and, when considering its recent profit upgrade, current capital and tier 2
capital, will support the Group's loan book growth to c£850m, an increase
from the previously announced target of c£800m.

At a c£850m loan book, profits generated are expected to continue to support
further annualised organic loan book growth in excess of 10% without the need
for additional dilutive tier 1 equity capital.

 

Carl D'Ammassa, Chief Executive, commented: "British Business Bank's continued
support by upsizing the ENABLE Guarantee helps unlock our near-term growth
ambitions and our aim to assist more SME dealers and manufacturers as we look
to further scale the bank and become a multi-product lender".

 

 

For further information contact:

 Distribution Finance Capital Holdings plc
 Carl D'Ammassa - Chief Executive Officer                                  +44 (0) 161 413 3391
 Kam Bansil - Head of Investor Relations                                   +44 (0) 7779 229508
 http://www.dfcapital-investors.com (http://www.dfcapital-investors.com/)

 Panmure Liberum Limited (Nomad and Broker)                                +44 (0) 203 100 2000
 Chris Clarke

 William King

 Anake Singh

 

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