Travers Smith LLP has advised Shawbrook Bank Limited (Shawbrook) on a new £25 million facility made available to KHK Capital (KHK), a bridging and development lender to property investors, developers and professionals. This new financing line enables KHK Capital to meet rapidly growing demand from new and repeat customers for lending solutions on a diverse range of residential and commercial property.
Typically, KHK funds projects to refurbish residential properties and split into multiple units; PD schemes to convert commercial property to residential; ground-up housing projects; and simple bridge loans.
The Travers Smith team was led by Finance Partner Charles Bischoff with support from Senior Associate Tom Maclean, and Trainee Eleanor McCann.
Jake Francis, Associate Director - Structured Finance at Shawbrook, stated "We are very pleased to work with the Speciality Finance team at Travers Smith again and to provide KHK with funding through this period of exciting growth. KHK has a solid reputation with existing customers, which is fundamental at this time, and we are delighted to support the management team with the growing demand it faces in a sector we know well."
Charles Bischoff, Finance Partner added "We regularly work with Shawbrook to support their efforts to provide funding lines that will add significant value to businesses and their loan books and it’s fantastic that KHK is seeing increasing demand from both new and existing clients, signifying growth despite the pressures of COVID-19."
KHK was advised by Fieldfisher.