26 October 2023

The Banking and Finance team from independent UK law firm Burges Salmon has advised Cardiff-headquartered Hodge Bank (Hodge) on its partnership with car finance company Blue Motor Finance (Blue) to form a new forward flow funding facility.

The deal, which provides Blue with a stable source of funding for up to £240 million with the potential to increase and extend this facility in future, is part of Hodge's strategy to invest in and partner with other companies to diversify its business.

David Landen, Chief Executive Officer for Hodge, says: “I’m delighted to announce our partnership with Blue, it’s a great strategic fit for Hodge complementing our existing business, and demonstrates our strong financial position and continued ambition to grow and deliver specialist solutions. Burges Salmon’s expert legal advice throughout the deal was an invaluable factor for us in successfully completing this partnership with Blue.”

The Burges Salmon team advising on the deal was led by James Barrett and Alistair Rattray, both directors in the firm’s Banking and Finance team.

James Barrett adds: “This is a particularly significant partnership for Hodge as it will enable the bank to grow and build on its existing mortgage, commercial and savings businesses with motor finance. We are therefore pleased to have advised Hodge on this deal and very much look forward to seeing the team develop its relationship with Blue over the coming months and years.”

Burges Salmon’s Banking and Finance team offers a full complement of banking and finance legal services. The firm’s banking lawyers have handled complex financing transactions for clients on both a UK and cross-jurisdictional basis and take pride in delivering a high-quality service, offering clear, effective solutions to their clients.

Key contact

James Barrett profile image

James Barrett Director

  • Banking and Finance
  • Asset Finance and Asset Backed Lending
  • Derivatives, Debt Capital Markets and Securitisations

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