The Very Group Secures Funding For Next Three Financial Years

The Very Group Limited today [10th January] announces the successful extension of all note classes within its UK securitisation facility from 1 January 2027 to 1 January 2028, securing funding for the Group for the next three financial years. These updates have been made whilst also improving note margins. 

Additionally, the senior element of the facility (‘AS’ and ‘AJ’ notes) has been increased by £135.0m to £1.51bn, meaning the total securitisation facility now stands at £1.77bn and has been operating for over two decades.

Rating agencies Fitch and DBRS have confirmed ratings of “AAA” and “A” for the A notes and “BBB” for the B notes within the facility. 

Ben Fletcher, Chief Finance and Transformation Officer at The Very Group, commented: “We are very pleased to have again extended our UK securitisation facility, which is a testament to the calibre of our relationships with the securitisation banks, and their confidence in the quality of our debtor book. We are grateful for their ongoing support.”

Source : The Very Group

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