A UK-based finance company has launched a £2.5 million ($3.1 million) debt securities listing on the Bermuda Stock Exchange.

Private & Commercial Finance, which offers hire purchase and finance lease facilities and has recently been approved as a bank in Britain, made the private placement to qualified investors as it prepares to offer savings accounts this summer.

The firm has a finance portfolio of nearly $149 million, 11,500 customers and employs 54 staff at its London headquarters.