PSC Insurance Group Limited (ASX:PSI) announced that it will issue UK debt facility for gross proceeds of £35 million in a round of funding on November 7, 2019. The transaction involved participation from Baring Asset Management Limited. The transaction limit can increase to £85 million. The term of the transaction is 5 years, interest only at coupon rate of Libor plus 5.5%, security granted in favour of security trustee with a first registered security over a selection of the Group UK assets. On the same date, the company announced that it has received a drawdown of £25 million in its first tranche close.