Omni Capital Agrees £30m Committed Debt Facility with LNT

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LNT=CINOmni Capital has agreed a £30m committed debt facility with LNT Care Developments Limited a wholly owned subsidiary of LNT Construction, a specialist developer of high quality, turn-of-key care homes.  With a term of four and half years, the new facility will enable LNT to continue to expand their development pipeline into more areas of the UK.

Omni Capital is a leading specialist provider of short and medium-term funding to the property sectors.  This additional facility will complement LNT’s current financial arrangements to accelerate their development growth.

 

 

Lawrence Tomlinson, Chairman of LNT said:

Omni Capital is a perfect partner for us.  As property experts, they understand the nature of our construction business, thus streamlining the decision making process.  They have a clear appetite to provide creative structured solutions which fill the gap left by the continued absence of mainstream bank lending.

I must also thank Chris Babington, Managing Director of Hervines Capial, for his advice on the deal.  This is the second time we have worked with Chris and his team and his experience, understanding and insight has been advantageous on both occasions. ”

 

Chris Babington, Managing Director of Hervines Capital, added:

“It has been a pleasure working with both LNT and Omni on this deal.  It soon became clear that LNT’s proposition was an ideal fit with Omni’s desire to lend to the residential development sector.  I’m confident this partnership will continue to grow. ”

LNT has long been a sector leader, developing fully en-suite care homes on behalf of care providers across the UK.  With demographic pressures on care services rocketing, the demand from operators for new, purpose built homes is rapidly increasing.

Dan Smith, Head of Structured Finance at Omni Capital, commented:

“We were extremely impressed by the proposition LNT Group delivered to us which centred around quality and deliverability.

LNT is a market leader in providing new purpose build care homes and their unique experience as both a care provider and developer made them stand out from the rest of the care industry, as their homes have been designed with a true understanding of how the built environment will enable the delivery of quality care.  Coupled with their ability to identify a development site based on demographic need and under provision in the locality, this secures long term demand for their fully turn-of-key homes.

We worked with the LNT team to structure a solution which met their needs and allowed them to rapidly grow their business. We are delighted our committed facility will give LNT the ability to source even more suitable sites, working with both small and large care providers to meet growing demand.”

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