26 Nov 2019
1 PM - Increased funding facility
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1 PM - Increased funding facility
Time Finance plc (TIME:LON) | 40.5 0 0.0% | Mkt Cap: 37.5m
- Published:
26 Nov 2019 -
Author:
Cavendish Research -
Pages:
3
1pm this morning announced that it has increased its funding facilities by in total £22.5m or around 20% of the group’s outstanding receivables. All the group’s funding is duration matched over the lending term, reducing the group’s liquidity risk. 1pm has opted not to get a banking licence and therefore does not use deposits as a funding source. The increased wholesale facilities is consequently important and good news for the group.