Fox Williams has advised DF Capital on a £20 million Tier 2 facility from British Business Investments.
The Fox Williams team was led by corporate partner Guy Morgan and financial services team co-head and partner Jon Segal, supported by regulatory partner Mardi MacGregor and associates Chien-Wei Lui and Tolu Ojo-Williams.
DF Capital is a specialist bank providing inventory finance to dealer and manufacturing businesses across the UK. This investment will help DF Capital provide an additional £300m+ of new lending per annum, to existing and new UK SME vendors and dealerships.
The investment has been made through British Business Investments, a wholly owned commercial subsidiary of the British Business Bank, that aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers.
Commenting on the deal, Guy Morgan said: “We are delighted to have represented DF Capital in relation to this Tier 2 facility, which will allow the bank to grow its lending balances to in excess of £800m, expanding its ability to support existing and new customers.
This transaction demonstrates our deep experience in offering strategic counsel to banks on fundraising and other corporate matters, a sector where we have been extremely active in recent years.”
James Felton, Director of Corporate Development, DF Capital added: “We are grateful for the support of the Fox Williams team in entering into this funding facility. This is an important investment that will significantly impact our growth and ability to support new and existing customers.”
Authors
Chien-Wei Lui
Senior Associate
Tolu Ojo-Williams
Associate
Mardi MacGregor
Partner
Jonathan Segal
Partner
Guy Morgan
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