Interpath advises Reward in securing £360m in new debt facilities

Interpath has advised specialist asset-secured lender Reward Funding on its £360m re-financing, which is a key part of its strategy to increase its loan book to £500m in the next three years.

Reward has received a £100m debut private securitisation from an international bank, a £150m senior debt facility from Quilam Capital, together with £110m of new funding lines from existing partners Foresight and RMB.

The deal partially refinances Reward’s incumbent debt facilities whilst also providing liquidity and enhanced flexibility to enable the business to support its continued expansion.

Reward provides asset-secured funding to support entrepreneurs and businesses. Its increased lending capabilities will further enable its clients to finance growth, innovate, or seize new market opportunities.

Since launching in 2010, Reward has supported over 2,000 property investors and businesses and provided over £1.2bn in funding across its five product areas.

Jack Dutton, director at Interpath, who led the transaction alongside Olivia Dunning and Niamh Valentine from Interpath’s Debt Advisory team, said: “We have worked closely with Reward to understand their operational model and put in place a capital strategy that would allow them to continue to offer the flexible, dependable, and rapid approach to funding which has given them a pivotal role in the funding landscape for the SME community. It has been an absolute pleasure working with the team on this transformational financing, which introduces new institutional funding partners to the business.”

Nick Smith, group managing director for Reward, added: “Being able to bolster our credit lines by a further £360m is a hugely significant deal for the business and will also benefit those companies which rely on our support to fund expansion in challenging economic conditions. It gives us such a strong foundation to achieve our goal of a £500m loan book within three years.

“Our whole ethos is built around working closely with entrepreneurs and SMEs to fund their ambition and offer a fast, agile funding solution that enables them to seize opportunities when they arise. This can only be made possible by the strength of our lending, and being on course to provide our busiest year of lending gives our new and existing clients that much-needed confidence and certainty in what remains an uncertain climate.”