results for the year ended 31 December, are ‘proceeding positively.’(LON:NSF ) told investors on Monday that discussions with its lenders, as referred to in its
NSF previously said the Board was in discussions with its lenders regarding possible future covenant waivers, whilst at the same time evaluating all funding options, which may include the issue of equity, ‘in order to ensure the Group has a strong and liquid balance sheet.’
The UK-based consumer finance company also said that the provider of the Group's £200m securitisation facility has agreed to extend the previous waiver so that a more permanent solution can be reached whereupon the group will make a further announcement.
Shares in Non-Standard Finance closed at 7.24p on Friday afternoon.
The group entered into a new, six-year securitisation facility provided by credit funds managed by Ares Management Corporation (NYSE: ARES) totalling £200m in March 2020.
“Preliminary discussions with a number of the group's larger shareholders regarding a possible equity issue to facilitate such a plan have been positive and are ongoing,” the group said this morning.
The group reiterated that while further access to the Facility is not required to finance the group's base case, it is exploring alternative capital structures under which the facility could help to fund its growth plans.
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