Bibby Financial Services has renewed its 拢700m securitisation arrangement for three years, boosting its funding capacity to improve access to finance for UK businesses.聽
The refinance deal has been agreed with lenders including Lloyds, HSBC UK Bank PLC, Bayern LB and with participation of funds under the management of Insight Investment.聽
Formed in 1982, BFS supports 8,500 SMEs worldwide through its invoice finance, asset finance and FX solutions, with 1,000 employees in operations spanning Europe and in Asia.聽
鈥淎mid a combination of stubborn inflation, energy prices and tariffs friction, the cost of doing business remains a real concern for SMEs across the country,鈥� said CFO Theo Chatha.
鈥淭his agreement provides BFS with significant capacity to help UK businesses access the cashflow they need to overcome these challenges, enabling them to grow and thrive.鈥澛�
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Michael Hodgson, managing director, head of corporate, securitised products group at Lloyds, said: 鈥淏ibby Financial Services is a long-standing client and we are proud to have supported the business since the securitisation was established a decade ago.聽
鈥淥ur continued backing, through this new three-year refinancing of the company鈥檚 core funding facility, is testament to Lloyds鈥� commitment to providing securitised funding to the SME sector.鈥澛�
The transaction comes amid the Department for 老九品茶 and Trade鈥檚 call for evidence on small business access to finance, which was launched in March and closed on 8th May.聽
Chatha added: 鈥淪MEs play a vital role in driving economic growth, and more than ever, these businesses need access to flexible working capital solutions to manage day-to-day expenditure, and to plan for growth.聽聽
鈥淎mid the closure of the government鈥檚 call for evidence of small business access to finance, we鈥檙e delighted to announce our refinanced facility. This transaction provides us with significant headroom to support new and existing customers in 2025 and beyond.鈥澛�
BFS is part of the Bibby Line Group, a 218-year-old family-owned business operating in multiple countries.