for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

UK subprime lender NSF plans $112 mln capital hike, hinges on regulator talks

June 15 (Reuters) - British subprime lender Non-Standard Finance said on Tuesday it was seeking to raise around 80 million pounds ($112.98 million) in the third quarter potentially through a share sale that would be backed by its largest investor.

NSF, however, said the equity raise depended on talks with the Financial Conduct Authority concerning a proposed compensation payment scheme for some customers of its guarantor loans business.

Over the past year, complaints have surged against guarantor loans, which typically require a friend or family member to guarantee they will take on repayments if the borrower falls behind by companies. (reut.rs/3wq7ald) ($1 = 0.7081 pounds) (Reporting by Muvija M in Bengaluru Editing by Rachel Armstrong)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up