Simmons & Simmons has advised HSBC on a senior warehouse facility to LendInvest, a leading asset manager for property finance. HSBC will provide up to £100 million in funding for LendInvest’s development finance programme. The Simmons & Simmons team was led by Kathryn James and assisted by Jacqueline Pandji, Olga Staszewska, Mark Sheiham and Matthew Norris.
This transaction benefitted from the British Business Bank’s ENABLE Guarantee programme, following on from the first non-bank transaction in 2021 with ThinCats in which Simmons & Simmons advised Citi, the senior funder. The ENABLE Guarantee programme when used by non-bank financial institutions is designed to increase SME lending capacity by enhancing the senior funding terms available to lenders.
Commenting on the transaction, Kathryn James said: “We are delighted to have advised HSBC on the most recent ENABLE Guarantee supported securitisation transaction promoting both increased lending to smaller business and the building of more homes.”