The Prax Group Announces Successful Upsizing Of Its Securitisation Facility

The Prax Group has announced that it has successfully upsized its securitisation facility from £575 million to £739 million.  The Group has mandated HSBC Bank plc as Arranger, with HSBC UK Bank plc, Citi., JPMorgan Chase Bank, N.A., and Royal Bank of Canada as Senior Note Purchasers.

The increase to the Group’s existing liquidity will provide Prax with increased resilience to high prices and a solid platform from which to execute its strategic objectives and to support its future growth plans. This demonstrates the confidence that the securitisation participants have in the strength of the Group’s business model and its vision for the future.