June 29, 2020 / 6:25 AM / 4 days ago

UK subprime lender NSF granted waiver on securitisation facility

(Reuters) - Subprime lender Non-Standard Finance (NSF.L) said on Monday that U.S. asset manager Ares has agreed to extend a waiver on a 200 million pound ($247.44 million) securitisation facility as the British company tries to find a longer term funding solution.

NSF, which last week highlighted risks to its ability to continue as a going concern, said it was exploring alternative capital structures and talks with its shareholders for a potential equity raise are ongoing.

Reporting by Muvija M in Bengaluru and Iain Withers in London; Editing by Rachel Armstrong

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