Reported by Business Money today its been conformed that Barclays Corporate has led a syndicate of banks in refinancing £340m for Bibby Group of Factors, theUK’s largest independent factoring and invoice discounting provider.
The deal sees Bibby refinance an existing facility, which was due to expire in 2012, early and secure its funding until 2014.
Barclays Corporate led a syndicate of four banks which included RBS, Credit Agricole and Lloyds in the refinancing of one of the largest receivable lines in the UK. Barclays Corporate provided £175m, Lloyds £75m, RBS £50m and Credit Agricole £40m.
Bibby has moved early to ensure the firm is fully capitalised as the economy recovers.
0 comments:
Post a Comment