All articles by Jason T
Jason T
FLA: operating leasing up, total asset finance down
More and more British businesses are turning to operating leasing, despite demand for asset finance falling steeply, new research has shown. According to data published by the Finance & Leasing Association (FLA), the use of operating leasing increased by 9 percent in the second quarter, with demand for operating leasing the strongest for business equipment, where it rose by 48 percent year-on-year
HP Financial Services finances $73m Swedish deal
HP Financial Services has agreed to finance a $73 million (51.9 million) deal between HP and Lnsfrskringar, a Swedish banking and insurance firm. Under the terms of the agreement, HP will provide Lnsfrskringar with servers, storage, workplace and applications management services, which HP Financial Services will lease to the bank.
Lombard finances £130k of environmentally-friendly vehicles
Lombard has provided gaming and amusement equipment supplier Bob Rudd Leisure with a fleet of environmentally-friendly vehicles worth £130,000 (150,500), the lessor has announced. The asset finance arm of the Royal Bank of Scotland has financed ten Ford Fiesta ECOs and two Citron Picassos for Bob Rudd Leisures sales and collections staff.
The Alta Group helps lessor secure $8m loan for expansion in Mexico
The Alta Group has led Docuformas, a Mexican IT and office equipment lessor, to an $8 million (5.6 million) loan under a programme of the Overseas Private Investment Corporation, a US government agency that promotes US investment in developing markets. Funded by World Business Capital, through negotiations advised by The Alta Group, the Docuformas project sill support expansion of Docuformas leasing activities
German and French economies return to growth
Both the German and the French economies grew by 0.3 percent between April and June, according to official data released by the two countries. The last time France and Germany saw their economies grow was in the first quarter of 2008, and todays data has surprised economists, who were expecting to see the recession to continue.
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KBC provides £3m ABL facility to The Fresh Olive Company
KBC Business Capital has signed a new deal with The Fresh Olive Company to provide a £3 million (3.5 million) asset based lending (ABL) facility to the European olive supplier. The funding, intended to finance working capital and support Fresh Olives growth plans, consists of a revolving accounts receivable facility as well as treasury, cash management and day-to-day banking facilities.
White Clarke Group expands into Turkey
We are committed to a long-term entry and investment in the Turkish marketplace, starting with in-depth market research to understand the market specifics, while introducing our own know-how, technology and services, said Peter Kainradl, managing director of White Clarke Europe.
AnaCap to buy Cattles Invoice Finance
AnaCap Financial Partners is buying Cattles Invoice Finance (CIF) from troubled subprime lender Cattles, the private equity firm has announced AnaCap will pay around £10.4 million (12.1 million) in cash, equivalent to CIFs net asset value, and £59.6 million in inter-company loans, for the company
Grenkeleasing places ?100m bond, secures refinancing into 2010
The lessor said that the bond was more than twice oversubscribed, with more than 60 investors from Germany and abroad 27 percent of which are private customers, 35 percent are funds and the rest banks and insurance companies.
BNP Paribas sees revenue slide in Q2, announces Fortis integration plan
BNP Paribass Equipment Solutions business unit, which includes BNP Paribas Lease Group, reported that revenues had been hit by the unfavourable trend in the used vehicle market in Q2, falling 8.8 percent year-on-year to 259 million Despite operating expenses at the French lessor declining 2.2 percent and the cost of risk falling 17.3 percent to 43 million, pre-tax income at the business unit was 35 million, compared to 49 million in the same period last year