International law firm Eversheds has advised PSource Structured Debt on USD24m of credit facilities with the Bank of Scotland consisting of an amortising term facility and overdraft.International law firm Eversheds has advised PSource Structured Debt on USD24m of credit facilities with the Bank of Scotland consisting of an amortising term facility and overdraft.

The new credit facilities consolidate and extend existing arrangements of PSource with the Bank of Scotland. 

PSource Structured Debt is a London listed fund investing in senior secured debt and equity warrants issued predominantly by US based small-cap companies. London banking partner Daniyal Ansari (pictured) led the Eversheds team.

Daniyal says: 'We are delighted to have advised PSource Structured Debt on this deal. This is the first financing for a fund of this type in the current market and, bearing in mind recent equity and currency market volatility and the more restricted availability of finance in the bank market, we are particularly pleased to have been able to help PSource to successfully complete this transaction."