Wealth and investment manager Kingswood Group has secured an additional £3m debt facility to support its capital requirements and growth agenda.
The facility agreement has a repayment date in October 2030 and an interest rate of 12%, paid at maturity.
Kingswood confirmed it is entering into an additional facility agreement with an affiliate of HSQ Investment. Lindsey McMurray and Duncan Gerard are non-executive directors of the company and employees of Pollen Street, an affiliate of HSQ Investments.
Entering into the agreement constituted a related party transaction under Rule 13 of the AIM rules for companies, the firm added.
“Kingswood continues to grow, and this facility agreement continues to demonstrate our investor’s positive commitment towards building Kingswood into a leading business in the sector,” the group’s CEO, David Lawrence, commented.
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