Innovative company Avonhurst advises BCI Finance on the financing of a financial asset acquisition
LONDON – Avonhurst worked for BCI Finance, a direct loan fund, in connection with the financing (with NatWest Bank) of the acquisition of a consumer loan portfolio from Huddle Finance 2 Limited.
The portfolio was bought by Verdam Limited with Salary Finance Limited acting as servicer. The transaction marked a return to Huddle Finance 2’s existing lenders, adding a new type of asset to BCI’s investment portfolio while providing a new structured and management solution for the underlying loan book. Financial partner Ian Frost led the matter with the assistance of Senior Associate Rafael Serrano, Associate Oliver Elsaesser and Trainee Jennifer Falconer-Hall.
Sam Kemp, MD at BCI, comments:
“The structure of this transaction and the nature of the underlying loans illustrate very well the type of transaction we at BCI are happy to engage in. By partnering with Salary Finance, we have become familiar with the ongoing maintenance of this loan book and given the opportunity to further improve consumer wellbeing. Avonhurst has been a fantastic partner in helping us manage the many stakeholders involved in this transaction and close it within a particularly tight timeframe. “
Ian Frost, Financial Partner, Comments:
“We are proud to have worked for BCI on this funding. This matter is part of our ongoing commitment to tailoring capital structures for alternative financiers investing in asset-based lending. It also shows that business is done even in the current climate and that we continue to advise a growing number of clients on their most important strategic issues.
Jonathan Bloom, CEO of Avonhurst, comments:
“This is yet another example of how in these challenging times Avonhurst’s offering – the offering of combined, bespoke advice that includes legal, legal / political risk advice and capital services – is increasingly sought after by discerning capital clients. While we see continued activity in corporate banking, we are increasingly asked for advice on restructuring, real estate, banking and political risks. This is a trend that we expect to continue as customers turn to us to help them overcome both the challenges and the opportunities of this extraordinary time. “
FOR MORE INFORMATION CONTACT Kathryn Adamson, [email protected], Mobile phone (+44) 0771 713 3595
NOTES FOR EDITORS
Founded in July 2019 with an extensive portfolio of clients, Avonhurst aims to meet the changing needs of discerning capital by delivering a bespoke offering that includes legal, legal / political risk advice and capital services. A group of market-leading founders and influencers from the legal world have created a revolutionary consulting firm that helps funds, capital providers, corporate borrowers and issuers, and secured lenders navigate the complexities of ever-changing markets.