Barclays Asset & Sales Finance
(BA&SF) has completed a syndicated £280m receivables financing
deal with distribution specialist Palmer and Harvey (Holdings) Plc
at a time when the banking arm is seeking to bolster its
asset-based lending (ABL) capability. The transaction, which
coincided with a management buyout of Palmer, was jointly financed
by BA&SF and Burdale, an asset-based lending arm of Bank of
Ireland (BoI). BA&SF is looking to grow the value of its
syndicated asset-based lending deals, which currently range in size
from £5m to £300m.
(BA&SF) has completed a syndicated £280m receivables financing
deal with distribution specialist Palmer and Harvey (Holdings) Plc
at a time when the banking arm is seeking to bolster its
asset-based lending (ABL) capability. The transaction, which
coincided with a management buyout of Palmer, was jointly financed
by BA&SF and Burdale, an asset-based lending arm of Bank of
Ireland (BoI). BA&SF is looking to grow the value of its
syndicated asset-based lending deals, which currently range in size
from £5m to £300m.
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