£5 million lending deal to XL Cars

Wright Hassall LLP advised HWSIL Finance Co Ltd, a wholly-owned subsidiary of Hadrian’s Wall Secured Investments Limited (HWSIL), a main market London Stock Exchange-listed investment company - on a £5 million lending deal to XL Cars.

HWSIL has entered the lending market as an alternative to the mainstream banks. The lender has raised an initial £80 million through a share offering to investors and has a particular focus on financing UK SMEs which are under-served by traditional lenders.

XL Cars, based in Kirton, Boston in Lincolnshire, specialises in the supply of short-term contract hire cars to businesses and corporate clients across the UK - usually for terms of between six and 12 months.

The company is to expand its fleet of executive cars and vans significantly having completed a deal which will see it financed by HWSIL over the next five years.

Christopher Jones, senior associate who led the transaction for Wright Hassall, said: “We are really pleased to have supported Hadrian’s Wall Capital - the Investment Adviser to HWSIL - in such a significant and innovative transaction.

“We were tasked with delivering a secured financing structure that gives XL Cars a high degree of operational flexibility, and we look forward to seeing the growth of its business that this financing will help XL Cars achieve”

“We’ve identified a gap in the market to lend to SMEs looking to take their businesses to the next level, through structured and flexible investments between £1 million and £10 million. This is the first investment deal we’ve completed, and the first deal we’ve worked on with Wright Hassall. They are a good fit for our legal needs and we look forward to working with them again in the future.” Ron Miao, COO - Hadrian’s Wall Capital

About the author

Christopher Jones Senior Associate

Christopher advises on many types of corporate transactions, but has particular expertise in banking and finance. Acting for banks, private equity houses and corporates, he has extensive experience of a very wide range of financial transactions.