Alternative finance provider ready to expand following £360m refinancing

Leeds-headquartered alternative finance provider, Reward Funding, has secured a £360m refinancing of its existing debt facilities.

The company says it aims to increase its loan book to £500m over three years.

The refinancing comprised a £100m private securitisation from an international bank, a £150m senior debt facility from Quilam Capital, and £110m worth of new funding lines from existing partners Foresight and RMB.

Walker Morris’s Banking & Finance team advised on the deal. The Banking team worked alongside the Walker Morris Corporate and Regulatory & Compliance team and with Ashurst LLP.

David Harrop, group finance director at Reward, said: “This refinancing represents a milestone in our growth journey.

“The support from Walker Morris and the other advisors has been invaluable in helping us structure a deal that not only provides the necessary liquidity but also positions us to meet our ambitious targets.”

Laura Lister, partner in the Banking & Finance tea at Walker Morris, added: “The team are thrilled to have supported Reward Funding on this landmark refinancing.

“This deal highlights our knowledge and expertise in wholesale financing, and it was a privilege to collaborate with the team at Reward alongside our colleagues at Ashurst.”