Corporate team supports
on bond listing on
the Cyprus Stock Exchange

Corporate team supports on bond listing on the Cyprus Stock Exchange

Published: 2nd April 2019
Area: Corporate & Commercial
Author: Keith Spedding

Our Birmingham office’s corporate team has worked with EGR Broking Limited in supporting Access Commercial Finance throughout the process of listing a bond on the Cyprus stock exchange and with a £7 million fundraising activity.

Founded in 2014, Access Commercial Finance is a Leeds-based commercial finance provider and publicly-listed company, offering a range of finance options to businesses of all sizes. Options include small business loans, asset finance, and crowdfunding. The business is led by Nick King, as managing director, and Ali Keyhani, as operations director.

The decision to list a bond on the Cyprus stock exchange comes from a wider finance-raising exercise in the form of a new special purpose vehicle for directly issuing debt to borrowers on behalf of the business.

Our corporate team acted as legal advisers on the deal, alongside EGR Broking Limited, the corporate brokers for the transaction and Sharelink Securities in Cyprus as nominated advisers.

Keith Spedding, our corporate partner, said: “The bond listing is a considerable step for Access Commercial Finance that will create the opportunity for the business to extend its financial support offering. It is unusual for a UK company to list a bond on the Cyprus stock exchange, although it does follow the growing trend of finding alternative routes to raising capital overseas, as well as in the UK.”

Jonathan Hall, MD, Corporate Broking at EGR Broking Limited, said: “Access Commercial Finance is a fast-growing business and we are delighted to add a new route to funding for its activities.  Cyprus listed bonds can be held in CREST by UK shareholders and can form part of a stock and shares ISAs.”

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