Transformative £600m Securitisation Secured

S & U PLC

27 October 2026

 

27 October 2026

S&U plc 

    (“S&U” or “the Group”)

TRANSFORMATIVE £600M SECURITISATION FACILITIES SECURED

S&U PLC, the motor and property financing specialist, today announces two new securitisation facilities that will be a key driver behind the Group’s next phase of growth. The new facilities, coming from two Tier 1 UK financial institutions, will provide up to £600m over an initial three-year term, replacing in full the existing £330m facilities with the club facility due for renewal in 2027, at improved rates (the “Facilities”).  The Facilities will provide £350m of funding for Advantage, S&U’s motor finance business, with a further £250m being available for Aspen, S&U’s property finance subsidiary.

Jack Coombs, Chief Operating Officer, observed: “The negotiations and preparations for these two new securitisation facilities, which are an important milestone for the Group, proved the quality of our systems and controls, ensuring a smooth and seamless transition. The Facilities substantially increase the scope of the Group’s funding over the next three years - at improved interest rates and advance rates. For the Group, the Facilities are non-recourse for commercial risk, whilst the covenants and credit parameters we have agreed reflect both historic and forecast trading. I thank Alvarez and Marsal for their invaluable advice during the process.”

Chris Freckelton, S&U’s Group Finance Director, added: “The two separate facilities for Advantage and Aspen have been structured in a similar way, although the Advantage facility will be hedged by a balance guaranteed swap as and when receivables are pledged. Importantly, the covenants and credit parameters governing the Facilities reflect S&U’s traditionally disciplined approach to underwriting and funding. Furthermore, we will also maintain a small RCF facility of up to £25m at Advantage to provide funding flexibility and further cover.”

Welcoming the move, Anthony Coombs, S&U chairman, said: “These new facilities underpin the Group’s growth ambitions and represent possibly the most transformative event at S&U for 20 years.  Our congratulations and thanks to those who have worked so hard in preparing this landmark transaction, particularly at S&U, Jack Coombs, COO, and Paul Pancino, our Head of Treasury, alongside Chris Freckelton, our Group Finance Director, and the dedicated finance teams at Advantage and Aspen, who all deserve a great deal of credit.

“The Facilities open a vista of opportunities for sustainable, responsible growth in both our businesses, underpinning a targeted near-doubling of receivables by 2030 while driving an improving net interest margin. Critically, these new, lower-cost facilities will only be utilized for lending opportunities generating our historically high returns on equity and capital employed, providing a major boost to profitable growth in the years ahead. I look forward to sharing more detail about our plans for the next three years at our full year results in April 2027”.

Note to readers: Certain technical aspects and processes relating to these deals can, subject to commercial confidentiality, be made available to interested parties on application to S&U, or its advisers at Peel Hunt or Berenberg.

For further information, please contact:

S&U Plc Anthony Coombs, Chairman	0121 705 7777
Newgate Communications Bob Huxford, Harry Handyside, Natasha Humphreys	020 7653 9848
Peel Hunt LLP Andrew Buchanan, Rob Parker	020 7418 8900
Berenberg James Felix, John Welch, Dan Gee-Summons	020 3207 7800

 

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