By John Reynolds on Friday 18 September 2020
The bank has made a £30m investment through its commercial subsidiary British Business Investments.
The bank has acquired tier two notes, which will be repaid to British Business Investments over time. The tier two notes have been issued as Shawbrook looks to raise £75m.
It follows a previous £30m investment in Shawbrook Bank from British Business Investments.
Judith Hartley, CEO, British Business Bank Investments, said: “Our second investment in Shawbrook Bank will continue to help support its growth trajectory, to the benefit of smaller businesses across the UK."
"This investment also demonstrates British Business Investments continued commitment to increase the diversity of supply of business finance. Supporting specialist lenders such as Shawbrook Bank helps diversify the finance market, contributing to more choices for UK smaller businesses.”
Dylan Minto, chief financial offier of Shawbrook Bank, said: “Establishing long term relationships with investors is a priority for Shawbrook and the strong and continued support shown by British Business Investments Ltd in our Tier 2 issue is testament to the bank’s track record as we shape our strategic intent to become the UK’s Specialist SME Lender of Choice."
"I hope our relationship with the British Business Bank continues to strengthen as we grow our business and help more SMEs across the UK.”
"The Investment Programme unlocks increased development capital to speciality lenders and challenger banks serving smaller businesses, enabling British Business Investments to support the development of diverse finance markets."