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Omni Capital secures extra funding capacity

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  • 19/10/2011
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Omni Capital secures extra funding capacity
Omni Capital has extended its lending capability after securing funding through what it described as a 'multi-million pound' deal.

The bridging lender has secured the funding through an arrangement between its parent company CPC Group and alternative investment manager Cheyne Capital Management LLP.

It said the funding will contribute to a £200m credit line facility that CPC Group is making available through the Omni Capital.

Omni added that it has begun discussions with a number of other third-party debt providers to secure an on-going warehouse facility in the near future.

Colin Sanders, chief executive officer of Omni Capital, said: “By entering into this significant and purposeful agreement, we have further strengthened our funding position.

“With new funding arrangements in place, and enjoying the full support of our parent CPC Group, we will benefit immediately from a robust funding framework and a business model with substantial shareholder investment.”

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