OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £40m NAV Revolving Credit Facility (RCF) to returning customer, Literacy Capital.
About Literacy Capital: Founded in 2017 by Paul and Richard Pindar, Literacy is a closed-end investment company focused on investing in and supporting growing UK businesses and helping their management teams to achieve long-term success. Headquartered in central London, the firm listed on the London Stock Exchange’s Main Market in June 2021, before gaining Investment Trust status on 1 April 2022. The £40m NAV RCF will be used to refinance existing debt, as well as provide additional capital and flexibility for Literacy to continue making new investments and to support the existing portfolio.