Sancus Limited has completed its first loan of £2.5m within its first month of operation. The loan was for a local entrepreneur who wanted to effect a shareholder restructuring under an extremely challenging deadline of two weeks. Security was taken through associated entities and Sancus structured an attractive debt/equity loan, which included two other co-lenders.
Sancus was approached by the client because of its strong and intimate knowledge of the offshore environment and its ability to handle highly complex funding situations. The Sancus team was praised for the confidence it gave the client that the transaction would be completed and the speed with which the deal was agreed.
Chief Executive Andrew Whelan said Sancus is currently working on a number of proposals and is continuing to build out its pipeline.
Category: Finance & Business