UK insurance coverage premium finance supplier PremFina has agreed a brand new £350m securitisation facility with assist from HSBC and Waterfall Asset Administration.
The funding will likely be used to assist £1.9bn in premium finance volumes, with £1bn already contracted.
The corporate was suggested by SpecFin Capital.
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“This transaction represents a big milestone for PremFina and a powerful vote of confidence in our folks, our funding in expertise and our portfolio,” stated Sharon Bishop (pictured), chief govt of PremFina.
“The transaction displays our spectacular efficiency during the last three years. We’re proud to associate with HSBC and Waterfall — two extremely revered establishments — as we scale our operations and broaden entry to versatile, tech-enabled premium finance options throughout the UK.”
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Mawgan Harris, managing director at HSBC, stated: “We’re delighted to assist PremFina on this transaction. The power displays our continued dedication to backing high-quality UK companies with scalable and sustainable funding platforms within the specialist finance sector.”
Krishin Uttamchandani, director at Waterfall Asset Administration UK, stated: “We’re excited to associate with PremFina. The corporate’s robust underwriting processes, constant efficiency, and progressive expertise, place it effectively for continued progress.”
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