When debt is an asset

Article Abstract:

Some US finance companies are moving into the UK to provide asset-based finance services. The Bank of America has been operating in the UK since 1997, and have conducted five asset-based finance deals in 1998. The bank forms close relationships with the companies they have financed but there is no guarantee of success. Companies with a good management team can apply for funding which is lent on the value of their assets, such as plant, equipment or land rather than how they have performed in the past. Sometimes good firms may have old debts which prevent them from being profitable.

United Kingdom, NONDEPOSITORY INSTITUTIONS, Financial Institutions NEC, Financial institutions, Asset-backed securities, Asset backed securities

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Tying deals up in Notts

Article Abstract:

Nottingham, England, has been affected by the general decline in the textile industry throughout the UK but it is also an important location for other businesses such as Boots Company PLC and East Midlands Electricity. Nottingham is well served by lawyers and there are a range of accountancy firms. One major bank has recalled their debt finance specialists back to their central offices which will result in less work for Nottingham based companies. Corporate finance companies based in Nottingham are able to cope with deals as large as 50 million pounds sterling.

England, Acquisitions and mergers, Attorneys, Lawyers, Accountants, Nottingham, England

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Offord joins Charterhouse after a fortnight at CVC

Article Abstract:

Leveraged financier Malcolm Offord has moved on from CVC Capital Partners two weeks after joining the firm as a director. CVC is not pleased about the decision, according to analysts. Offord has moved to Charterhouse Development Capital where he will work with former colleague Gordon Bonnyman. Offord had previously worked with Bankers Trust for two years, during which time he played an important part in making it one of the top leveraged finance houses in Europe.

Business Credit Institutions, Officials and employees, Behavior, Charterhouse Development Capital Ltd., Development credit corporations, CVC Capital Partners Ltd., Offord, Malcolm

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