"The Quilam principals structured our first institutional credit facility back in 2014, when the business was operating at a very different scale. Returning to that relationship now, with a new larger facility, reflects how we have grown over that period"
- Stephen Meller - Alternative Bridging Corporation
Alternative Bridging Corporation has completed a new senior institutional funding facility with Quilam Capital, providing the specialist lender with increased capacity and a lower cost of capital to support brokers and borrowers across its lending range.
The facility carries an initial committed amount of £70m, with further capacity of up to £150m available to support future growth.
A relationship built over a decade
The deal marks a return to a longstanding partnership. The principals now operating at Quilam were the same team that structured Alternative Bridging's first wholesale credit facility in 2014, when the business was at a significantly earlier stage of development.
"The most successful funding relationships develop over time through a shared understanding of how a lending business actually operates and where it intends to go," said Stephen Meller, director and chief financial officer at Alternative Bridging Corporation (pictured).
"The Quilam principals structured our first institutional credit facility back in 2014, when the business was operating at a very different scale. Returning to that relationship now, with a new larger facility, reflects how we have grown over that period."
Meller also pointed to the context in which the deal was completed. "The timing is also notable. Funding markets have not been entirely straightforward in recent months, which is often when the strength of long-standing relationships becomes most visible. Completing a facility of this size in those conditions says a great deal about the confidence both sides have in the direction of the business, and our ability to support brokers and borrowers across a broader range of lending scenarios," he added.
Quilam backs further expansion
For Quilam Capital, the transaction represents a vote of confidence in Alternative Bridging's track record and growth trajectory.
"Alternative Bridging is a long-established and reputable UK bridging finance lender, with a proven track record," said Matt Glew, director at Quilam Capital. "We are very happy to be supporting the business through a new, scalable senior funding line to support its future growth and are looking forward to working with Stephen and the rest of the team once again."
The new senior facility offers the specialist lender:
- Increased overall funding capacity
- Greater operational flexibility
- A reduced cost of capital compared with previous arrangements
- A scalable structure to accommodate future demand
Advisory teams and legal support
Several professional advisers supported the transaction. TLT LLP, led by Mark Thomas, partner, provided legal advice for Alternative Bridging. Financial advisory support came from Interpath, led by Jack Dutton, director in financial services debt and capital advisory, alongside his team. Quilam Capital was represented by Macfarlanes LLP, led by Andrew Perkins, partner.
Dutton described the transaction as a meaningful step forward for Alternative Bridging's capital structure.
"This facility represents a significant step forward in strengthening Alternative Bridging's capital structure and enhancing its ability to scale efficiently," he said.
"The increased capacity and reduced cost of capital provide a strong platform for growth, while the flexible funding profile ensures the business can respond effectively to demand across its specialist lending portfolio. We are delighted to have advised on this transaction and continue our working relationship with both Alternative Bridging Corporation and Quilam Capital."
