Supply@ME advances securitisation note programme to final stage
By Iain Gilbert
Date: Monday 30 Nov 2020
(Sharecast News) - Fintech group Supply@ME Capital said on Monday that an inventory-backed securitisation note programme for its stock monetisation platform was now in its final phase.
Supply@ME stated that recent work had brought about a new fast-track procedure to accelerate due diligence of client companies, with final terms of the note subscription expected to be reached within days.
The AIM-listed group added that completion was expected before the end of 2020, when Supply@Me will disclose details of the transaction and its inventory funding partner.
Elsewhere, Supply@ME stated that it had 152 client companies as of November 30, with gross originations totalling €1.9bn - a 16% rise since September.
Chief executive Alessandro Zamboni said: "The securitisation issuance is now in its final phase with many of the key processes either completed or in their final stages and I look forward to announcing its closing.
"Furthermore, working closely with the global asset management industry, the Captive Bank project will provide an additional boost to our business by supporting the inventory monetisation of our growing client portfolio."
As of 1100 GMT, Supply@ME shares were down 5.15% at 0.38p.
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