Travis Perkins, the builders merchant, has announced a new banking facility today, perhaps revealing how banks and, by extension major corporations, are having to deleverage.
The new facility is worth £550m and becomes available in April 2013, when the firm's current £800m facility runs out. In other words Travis Perkins' overdraft is soon to get £250m smaller.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
How you could boost household income by £16k tax-free – five legal loopholesKnowing your way around the tax system means you can take advantages of ways to keep more of your income tax-free
-
HSBC UK slashes financial advice fee to 1% for Premier customers – how does it compare to other £100k accounts?Natwest and Lloyds offer competing accounts with a range of perks from cheaper mortgages to cashback to entice those with £100,000 or more in savings and investments. Is HSBC’s reduced fee worth considering?
