Jaywing increases managed-fund loan facility and begins strategic review

Jaywing increased its existing loan facility with DSC Investment Holdings and Lombard Odier Asset Management (Europe) Limited by GBP 566,500 to GBP 9,766,500. The facility originally began in August 2019. The lenders requested longer-term refinancing while Jaywing explored strategic options, including a possible sale. The issuer said it had no approach or offeror discussions at announcement. LOAM acted as discretionary manager or sub-adviser for funds and accounts, including as agent for its US affiliate, rather than as the parent bank lending its own capital. Each lender obtained two board-appointment rights. The disclosed figures are the combined facility and increase, not LOAM's individual commitment.