Close Leasing, the UK subsidiary of Close
Asset Finance, has won approval from the main board of its parent
bank to provide syndicated loans to the burgeoning rail finance
sector.

The lessor has hired Tim Loy from National
Australia Bank’s rail finance arm to spearhead its move into the
sector.

Commenting on the development, Paul Bartley, a
director at Close Leasing, said: “Close is not looking to be a lead
arranger in the rail market, more a sub-participant with an
appetite of up to £250 million.”

Close Leasing also recently won approval from
its parent bank, Close Brothers, to lend up to £25 million on
individual deals.

A full report on the leasing divisions of
Close Brothers will appear in the June issue of Leasing
Life

Brendan Malkin