Fleet has received investment in the form of a convertible loan from PIMCO, the US based investment management firm with $1.6 trillion AUM. Conversion rights of the loan into Ordinary Shares is at a 27x premium to the original shares purchased in 2014 by West Hill investors.
Fleet Mortgages has now completed close to £1 billion in loans throughout the UK in conjunction with their partner, BlackRock.
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