News
New Funding Agreed
28 April 2015
We are pleased to advise that we have now contracted a new debt funding facility to replace Artisan’s current RBS facility which expires in July 2015.
This new facility is provided through Tenax Capital and is a facility designed to allow the refinancing of projects currently funded under RBS, with new projects to be independently funded by alternative debt providers.
This will allow a migration from the existing revolving credit facility to facilities that are now more commonly available from lenders.
There are greater costs to this new facility but it is a consequence of RBS not being able to continue to offer Artisan development funding that we must move to this facility.
We are now to complete the conditions precedent to enable drawdown.
