Ann: Spenda secures $50m debt warehouse facility, page-105

I guess it’s because of the other fintech lenders I follow (i.e. WZR, MME etc), when they announce debt facilities they:

1. are usually with a big four bank
2. outline the precise terms of the arrangement, including interest rates etc
3. don’t have to give away equity in return for debt funding.

But the fact Spenda isn’t #1, hasn’t revealed #2 and had to do #3 doesn’t surprise me in the least. The market reacted today, it generally isn’t wrong.

On a side note, spare a thought for poor old @Fiendish stuck in HotCopper purgatory, for the day he has waited so long for…