UK fintech Pockit borrows cash from Spanish railway architect Fintech Pockit has borrowed money from an award-winning Spanish railway architect in one of the most unusual debt raises completed by a British fintech. The Cardiff-based business, which offers prepaid accounts to customers without a credit score, has signed a debenture agreement with Anchorgate Management, a British Virgin Islands company controlled by architect Santiago Calatrava, company [...]
‘At least a decade’ to turn Thames Water around, CEO says amid £1.6bn loss Transport and infrastructure The boss of Thames Water has said it will take “at least a decade” to turn the company around as it posted a loss of £1.6bn. The loss for the year to end March compares to a small profit of £157m the prior year and comes despite an 8.7 per cent rise in turnover during [...]
Blow to Thames Water as KKR pulls out of equity raise Transport and infrastructure Thames Water’s battle to escape nationalisation has suffered a hammer blow after KKR withdrew its bid to acquire an equity stake in the business. The US private equity giant had been selected as a preferred partner for the debt-laden utility business as part of its efforts to raise funds, with KKR having “prepared detailed plans, [...]
Sofas and season tickets: Inside the world of retail finance May 16, 2025 Retailing financing is on the up and as big banks steer away from the market, specialist lenders are cashing in. Fresh research from the finance and leasing association (FLA) showed consumer finance grew by 13 per cent in March 2025, compared to the year prior. The first quarter of 2025 saw a six per cent [...]
Pizza Express orders up £55m in extra dough April 3, 2025 Pizza Express has secured a boost worth £55m after agreeing a refinancing deal which will significantly cut its debt. The restaurant chain has negotiated a £55m par debt paydown which will see its debt position reduced to £280m. As part of the deal, shareholders including Bain Capital Special Situations will inject £20m equity into the [...]
Asos slashes £500m debt pile as refinancing deals revealed September 11, 2024 Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
Hammerson: Shopping centre giant secures refinancing for leading Dublin retail hub August 14, 2024 Shopping centre giant Hammerson arranged a €350m (£300m) loan for one of Ireland’s leading retail destinations, Dundrum Town Centre. The deal has been agreed with Pimco Real Estate, with its existing loan due to mature next month. Hammerson’s share of the new loan, which is repayable by September 2031, was €175m (£150m) with lenders for [...]