Leading debt purchaser Arrow Global now has £110 million of revolving credit facility with three lenders, significantly increasing its purchasing power and further strengthening its market position.
Today's announcement follows an agreement with GE Capital to supply an additional £30 million of revolving credit facility to the business, which provides additional funding to support future growth plans.
GE Capital joins an established funding consortium with RBS and West LB.
Tom Drury, Chief Executive Officer of Arrow Global, says "Working with GE Capital's experienced team made a difference, as they were able to execute this transaction swiftly and efficiently. We are currently seeing growth in the market, and expect investment opportunities to continue to increase. The fact that the company has attracted multiple lenders - and is in advanced discussions with additional interested parties - is an endorsement of the strength of our business model, performance to date and exciting future prospects."
Arrow Global is now one of the largest debt purchase businesses within the UK, and the company is on track to achieve 100% of its 2012 growth targets.
Barry John, Managing Director of GE Capital, says "Arrow Global has developed a well-deserved, market-leading reputation and the firm is in a strong position to grow. We look forward to working with them to achieve their future growth plans."
Notes to editors
Arrow Global is one of the largest, fastest growing and most innovative debt purchasers in Europe. Its data driven, compliance focused and customer centric business model offers a tailored approach for creditors and customers alike, and has proven to be a winning formula.
With 3.8m accounts and £7bn under management, intensive data analysis and account segmentation help to ensure that each customer is offered the most suitable solution for their individual circumstances. The company is committed to facilitating positive outcomes, and strongly believes that what is good for the customer is also good for business.
Arrow Global was named Debt Purchaser of the Year at the 2011 Credit Today Debt Collection Awards.
Further information about Arrow Global is available at www.arrowglobal.net.