British care and housing solutions provider Linc Cymru has raised 95 million pounds ($121.4 million) in new funding alongside a full restructuring of its bank debt portfolio.
The total funding package included raising a private placement of $95.8 million from two institutional backers and the introduction of a new backer.
The private placement was structured with significantly deferred issuance, two tranches, six and 13 months deferred, to cut down Linc’s short-term cost of funds.
The total proceeds will be used to help deliver over 1,600 new homes across South Wales over the next ten years.