CPP Goes For Growth After Securing £130m Finance Package
2008-05-19 | Yorkshire Post
YORK-based CPP Group has revealed it has secured £130m financing to boost its expansion across Europe, Asia and North America.CPP, which specialises in providing credit card protection, identity theft protection and mobile phone insurance, said it was still delivering impressive growth despite the credit crunch.
The senior debt package was structured locally by Barclays, Lloyds TSB Corporate Markets, HSBC, The Royal Bank of Scotland and Allied Irish Bank.
The five-year deal will provide CPP with working capital facilities to develop the business and enable the return of funds to shareholders. Last year UK revenues were up 16.7 per cent to £136m, while globally the group turned over £225.2m, a rise of 14 per cent on the previous year.
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