The FCA has launched an investigation into London Capital and Finance (LFC). LFC provides mini-bonds. The FCA is preventing LFC from dealing with its assets including cash. LFC provides debt to London Oil & Gas (LOG), the main financial backer of IOG. LOG is providing IOG with loan facilities for a total of £38.55 mm out of which £30.7 mm have been drawn and £7.85 mm remain available for drawing down.
04 Jan 2019
FLASH: No expected impact on IOG from investigation of loan provider to IOG’s main backer
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FLASH: No expected impact on IOG from investigation of loan provider to IOG’s main backer
- Published:
04 Jan 2019 -
Author:
Stephane Foucaud -
Pages:
2
The FCA has launched an investigation into London Capital and Finance (LFC). LFC provides mini-bonds. The FCA is preventing LFC from dealing with its assets including cash. LFC provides debt to London Oil & Gas (LOG), the main financial backer of IOG. LOG is providing IOG with loan facilities for a total of £38.55 mm out of which £30.7 mm have been drawn and £7.85 mm remain available for drawing down.