The Artisanal Spirits Company (ASC), owner of The Scotch Malt Whisky Society, has announced that it has agreed a new financing facility of £15m, through a new partner, Ferovinum. The new facility recognises the value of Artisanal’s appreciating cask spirit asset base, allowing drawdown optionality and provides further financial flexibility.
In a statement Artisanal said, “The facility allows the Group additional financial headroom and a larger financial pool from which to draw, rather than an increase in the overall debt level, as we balance this new facility and the existing RCF facility.”
Andrew Dane, CEO of The Artisanal Spirits Company, commented, “This is an exciting development giving the Group further financial flexibility without increasing gross debt whilst demonstrating the value of the Group’s assets.
“ASC has two value streams: the core trading business and its inventory where the value of our spirit casks has been proven by Ferovinum extending capital at retail valuations underpinning the worth of our inventory, providing financial flexibility and giving us further confidence in the Company’s investment strategy and asset base.”
Picture: Andrew Dane