LGB Q1 2019 MTN Issuance Summary
Sema Lease UK Limited, the leading UK provider of short- to medium-term vehicle rental, issued notes from its existing £25 million MTN Programme. The notes have 1, 2, and 3 year maturities paying 6.0%, 7.0%, and 8.0% interest p.a. respectively. The funds raised under the MTN Programme are used to purchase cars which are leased on short- to medium-length terms. Over 1,800 cars have been funded under the MTN Programme since its establishment in March 2014, with over 60% of these already disposed of.
Rivers Leasing, the award-winning equipment leasing and asset finance company, issued notes from its existing £25 million MTN Programme. The three-year quarterly amortising notes have an interest rate of 8.0% p.a. Since the establishment of the MTN Programme, a total principal amount of £12.8 million has been issued.
SRT Marine Systems, the AIM-listed global provider of maritime surveillance and vessel tracking systems, issued notes from its existing £10 million MTN Programme. The three-year notes have an interest rate of 8.0% p.a. Funds raised are being used to finance the working capital requirements of large systems projects for governments in the Middle East and South East Asia.