British Business Bank Investments Ltd continues commitment to UK SMEs with Tier 2 investment in Shawbrook Bank as part of £75 million capital raise.
British Business Bank Investments Ltd today announces its investment in specialist lender Shawbrook Group plc’s £75 million Tier 2 note issuance, demonstrating its continued commitment to improving access to capital for UK SMEs.
Funds raised from the issue, which was completed yesterday, will enable Shawbrook Bank to increase its volume of lending to smaller businesses, supporting the bank’s growth over the medium term.
Tom Wood, CEO, Shawbrook Bank Ltd said:
“We’re pleased that the British Business Bank has had the opportunity to support our continued profitable growth as we remain focused on improving access to capital for high quality smaller businesses.”
Peter Wilson, CEO, British Business Bank Investments Ltd, said:
“Our investment in Shawbrook Bank will not only help support the business’ strong growth trajectory, to the benefit of UK SMEs, but will also provide an attractive yield for the taxpayer via an investment in a profitable and well-capitalised bank.
“Our investment demonstrates our commitment to increasing the diversity of small business financial markets by supporting important and fast growing specialist lenders such as Shawbrook.”
British Business Bank Investments Ltd is the commercial arm of British Business Bank plc and invests on purely market terms. This transaction is the latest in a series of commitments by British Business Bank Investments Ltd, and takes its total of completed investments across its portfolio to over £270 million.
For more information please contact:
British Business Bank
Nithiya Gnanathas, firstname.lastname@example.org
0207 199 2200
Scott Shearer, email@example.com
Notes to editors
About British Business Bank Investments Ltd
British Business Bank Investments Ltd is the commercial arm of the British Business Bank, and is a wholly owned subsidiary of British Business Bank plc.
The British Business Bank was established to make finance markets for smaller businesses work more effectively, enabling the sector to prosper, grow and build economic activity.
Its objectives are to:
British Business Bank plc is a development bank wholly owned by HM Government which is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). The British Business Bank operates through a number of subsidiaries, including British Business Bank Investment Ltd. British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. More information can be found at www.british-business-bank.co.uk
British Business Bank Investments Ltd has completed a £30 million investment in Shawbrook Group plc’s £75 million fixed rate reset callable subordinated Tier 2 notes which are due 2025 and have an initial semi-annual coupon of 8.50% (subject to reset in accordance with the terms of the notes).
Shawbrook is an independent specialist lending and savings bank serving UK SMEs and consumers with tailored products designed to address a selection of high growth sub-sectors of the overall lending industry.
The Group’s lending activities are primarily funded by a stable retail deposit book consisting of variable rate long-dated notice accounts (mostly 95 – 120 days’ notice) and fixed rate fixed term accounts (mostly one – five years).
Shawbrook Bank Limited is an operating entity of Shawbrook Group plc. In April 2015, Shawbrook Group plc’s shares (SHAW.L) listed on the Main Market of the London Stock Exchange. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is a member of the Financial Services Compensation Scheme.BACK
6th March 2019Beechbrook Capital’s second UK SME Credit Fund reaches first close at £128m and completes first two investments
18th February 2019British Business Investments commits £20m to ThinCats to provide more debt finance to UK businesses
29th October 2018Autumn Budget 2018
23rd October 2018British Business Investments – Full year results for the period ending 31 March 2018
23rd October 2018British Business Investments Annual Report 2018
2nd October 2018British Business Investments makes £25m Tier 2 investment in Secure Trust Bank PLC
1st October 2018British Business Investments launches new £100m programme to support regional angel investment
1st October 2018Catherine Lewis La Torre appointed CEO of British Business Bank’s commercial patient capital activities
27th June 2018British Business Investments commits £31.15m to IQ Capital Fund III to support deep tech companies
16th May 2018British Business Investments provides £12m to asset finance specialist Universal Leasing Ltd
15th May 2018British Business Investments launches new £500m programme to increase access to patient capital
3rd May 2018Growth Capital firm Oxx announces first close of debut fund with commitment from British Business Investments
17th April 2018British Business Investments commits to Dawn Capital’s new venture capital fund
11th April 2018British Business Investments provides new finance facility to Liberis
28th February 2018British Business Investment commits £20m to new venture capital model from Kindred Capital
6th February 2018British Business Investments commits to a £30m boost for smaller businesses
22nd December 2017British Business Investment’s latest commitment boosts regional finance options for UK smaller businesses
11th December 2017British Business Investments commits £30 million at the first close of Shard Credit Partners first direct lending fund
4th December 2017British Business Investments and IGF to increase SME funding with new cash injection
30th November 2017British Business Investments commits £15m to Balderton’s new $375m fund
24th November 2017Budget 2017
23rd November 2017News from our partners – Seedcamp celebrates 10 year anniversary with £41M first close seed fund to invest in next generation of European entrepreneurs
16th November 2017British Business Investments commits £20m to £100m FPE Capital fund
16th November 2017Catherine Lewis La Torre at this year’s BVCA Summit
21st September 2017BRITISH BUSINESS INVESTMENTS – FULL YEAR RESULTS FOR THE PERIOD ENDING 31 MARCH 2017
21st September 2017VIEW OUR ANNUAL REPORT FOR 2016-17
3rd August 2017British Business Bank Investments Ltd commits €40 million in first closing for Harbert European Growth Capital Fund II.
10th July 2017GCP caps a successful year with a £40m investment from British Business Bank Investments Ltd to complete the final close of Fund IV at £205m
29th June 2017BOOST&Co Limited secures additional £20m commitment from British Business Bank Investments Ltd for its Industrial Lending 1 fund
21st June 2017Atom bank secures £30m Tier 2 capital facility from British Business Bank Investments Ltd
21st April 2017British Business Bank Investments Ltd provides £6.6m of funding to Shire Leasing to boost asset finance for smaller businesses
2nd February 2017Beechbrook Capital closes £150m UK SME Credit I and backs two more businesses
18th January 2017British Business Bank Investments Ltd makes £400m from Autumn Statement available to venture capital funds
5th January 2017British Business Bank expands partnership with Funding Circle
8th November 2016British Business Bank Investments Ltd announces £10m commitment to new £260m technology fund
20th September 2016British Business Bank Investments Ltd – Full Year results for the period end 31 March 2016
20th September 2016View our Annual Report for FY2015-16
13th September 2016British Business Bank Investments Ltd commits £18m to northwest-based asset finance provider, enabling a £36m boost to smaller business growth
3rd August 2016British Business Bank Investments Ltd partner Beechbrook Capital holds first close on latest private debt fund
20th July 2016British Business Bank Investments Ltd provides £16.5m line to Northwest asset finance provider Kingsway under new expansion capital initiative
16th June 2016British Business Bank Investments Ltd names Catherine Lewis La Torre as Chief Executive Officer
17th May 2016British Business Bank Investments Ltd invests in Frog Capital II
14th April 2016British Business Bank Investments Ltd invests £30 million in first close of CORDET Direct Lending fund
31st March 2016British Business Bank Investments Ltd invests in Atlantic Bridge III, a new €140 million fund for Technology companies
22nd March 2016British Business Bank Investments Limited partners with Liberis to support funding for smaller UK businesses
10th March 2016British Business Bank Investments Limited publishes half year results for the six months ended 30 Sept 2015
22nd February 2016View our annual report for FY 2014-2015
19th February 2016British Business Bank Investments agrees £25m facility with Haydock Finance
19th January 2016British Business Bank Investments Ltd invests in new UK Private Debt Fund from Muzinich & Co
19th January 2016British Business Bank Investments Ltd – Annual Results and publication of 2015 Annual Report and Accounts
4th January 2016British Business Bank Investments Ltd-supported Beechbrook Capital’s inaugural UK SME Credit Fund holds first close at more than £100m
29th October 2015British Business Bank’s commercial arm supports UK SMEs with investment in Shawbrook Bank
17th September 2015British Business Bank’s VC Catalyst Fund invests in Nauta
27th March 2015British Business Bank Investments Limited makes €6m clean technology investment
2nd February 2015British Business Bank Investments backs Northwest asset finance provider with £5m investment, introduces new expansion capital initiative
31st October 2014£80 million boost for leasing finance as British Business Bank focuses on alternative lending for smaller businesses
24th September 2014British Business Bank partner BMS Finance provides debt finance to Whittle, one of the UK’s leading commercial painting contractors
2nd September 2014British Business Bank boosts European Capital UK SME fund to £100m to help provide debt finance to UK’s smaller businesses
6th August 2014Making Britain the global centre of financial innovation – £100m extra for British Business Bank Investment Programme
25th February 2014New £40m investment by British Business Bank to support £450m of lending to smaller businesses