announces £20m Tier 2 investment in Secure Trust Bank
Summary
07 March 2023: British Business Investments today announces a new \xa320m subscription to specialist lender Secure Trust Bank plcs \xa390 million Tier 2 note issuance. The investment follows a previous \xa325m subscription to Secure Trust Banks \xa350m Tier 2 note issuance in 2018, which has now been repaid.The \xa320m subscription has been provided through British Business Investments Investment Programme, which is designed to increase the supply and diversity of finance for smaller businesses by boosting the lending capacity of challenger banks and non-bank lenders.Secure Trust Bank is an established specialist bank founded in 1952, focusing on selected segments of the business and consumer finance markets. Following our earlier subscription in 2018, we are pleased to be working with Secure Trust Bank again to support increased smaller business lending across the UK.David McCreadie, CEO, Secure Trust Bank, said: Secure Trust has shown sustained commitment to helping UK business through its real estate finance, commercial finance and motor vehicle dealer stock funding financial products. We are pleased with the support we have received from British Business Investments and new investors in our new Tier 2 issuance. STB operates principally from its head office in Solihull, West Midlands, and had 833 employees (fulltime equivalent) as at 31 December 2022.