Financial Services Business

How Lifetime Income worked with GCI to grow their business

Client Overview

Founded in 2013, with trading commencing in 2016, the New Zealand-based financial services business offers a guaranteed income for life to NZ retirees through variable annuity products
Lifetime Income is New Zealand’s largest retirement income provider managing over NZ$230 million of assets
We have a relationship with the founder, who has 30 years of experience in the insurance industry, having previously been a successful CEO of leading New Zealand insurance companies and government bodies

Facility Overview

$4.8 million, 4-year facility structured in two tranches
Initial interest-only period for each tranche, then fully amortising
Warrants issued with each tranche

Commentary

Lifetime Income raised growth credit alongside equity to reduce dilution whilst continuing to grow and meet the business’s regulatory capital requirements
This deal was Leap’s first New Zealand deal. We were asked to provide a tailored facility for the Client in a very tight timeframe

Providing Value Added Credit

Speed

The Leap team was able to go from due diligence to document execution in just 2.5 weeks. Leap’s local, nimble team were able to make quick decisions to meet the specific requirements of the Client.

Network

We were able to introduce the Client to potential equity investors as the business required further capital to fund growth.

We provide more than just funding, we provide
Value Added Credit

The case studies below outline how we work with our borrower clients to understand their specific requirements and provide flexible funding structures that enable them to continue to grow.