The specialist business finance division of Hampshire Trust Bank (HTB) has completed a £990,000 asset refinancing facility for a South Wales group of marine companies.
The structured asset finance team used the existing fixed assets of the group to consolidate their current debt facilities, whilst taking a second charge over the freehold of the marinas. The facility delivers an annual saving of £300,000 which significantly improves cashflow and enabled the group to make considerable further investment.
Robert Still and Richard O’Brien joined HTB in November to develop the structured asset finance business as the division refocussed its proposition on niche asset classes. The team re-structures business debts with a typical ticket size ranging from £250k to £2.5m.
Robert Still, head of business development for structured asset finance said: “This facility highlights the high-level transactional skills at HTB when dealing with structured and complex cases.”
The customer added: “We are delighted to have agreed facilities with HTB, which together with our key funding partners, provides the group with conservative terms combined with the flexibility to respond to market opportunities. Robert and the team at HTB quickly demonstrated a deep understanding of our business and shared our enthusiasm for a long-lasting relationship.”
In January Hampshire Trust Bank promoted Louise McIntosh to operations director and appointed Nigel Pearce as a senior underwriter within its specialist business finance division.
McIntosh and Pearce are based in London and report to Jon Maycock, managing director of specialist business finance and Andrew Woodhouse, credit and risk director, respectively.
McIntosh has been part of the Specialist Business Finance division since she joined HTB earlier this year. McIntosh has 15 years operational and change management experience in the industry and joined from Amicus Finance where she project managed the launch of a new commercial mortgage division.
Prior to this, McIntosh worked at Aldermore Bank, and she started her career at ING Lease UK.
Bringing over two decades of experience to HTB, Pearce joins from Distribution Finance Capital where he served as risk director. Prior to this, Pearce was head of credit at Paragon Bank. Pearce also served as managing director at Five Arrows Business Finance and Fineline Media Finance.