Argentex today announced that it has increased its existing £20 million revolving credit facility (RCF) provided by IFX Payments to £26.5 million.
Alongside this, Argentex has drawn down on the facility, such that overall utilisation of the RCF is now £23.5 million. This drawn amount is in addition to the £10.5 million secured bridging loan provided by IFX Payments and has been applied to strengthen the company liquidity position.
In connection with the above, the Company’s main trading subsidiary, Argentex LLP, has agreed a further Voluntary Requirement (“VREQ”) with the FCA, which introduces certain asset disposal restrictions to preserve liquidity within Argentex LLP.
These measures form part of the FCA’s ongoing supervisory engagement with Argentex LLP following recent market volatility and liquidity pressures. The VREQ permits Argentex LLP to continue servicing clients under defined parameters, while limiting new trading activity to specific products within agreed trading limits approved by the regulator.
As previously announced, the FCA has confirmed a new Individual Liquidity Guidance (ILG) level of £23.625 million, effective from 15 July 2025. The increase to the existing RCF forms part of the Group’s proactive steps to meet this requirement.
The Board and senior management team remain focused on stabilising the firm’s financial position, safeguarding client interests, and supporting a return to normalised trading conditions in due course.
