LONDON (Thomson Financial) - Aquilo PLC said HSBC Holdings PLC has taken
over the banking facilities for its operations and that shareholder Veer Palthe
Voute NV (VPV), has agreed to provide a 12 month loan of 1.5 mln stg to the
company to support the facilities to be provided by HSBC.
The company, which provides services to insurers, affinity groups and
insurance brokers, said this loan will allow it to secure improved credit terms
with its suppliers and allow an expansion of its current levels of trading.
VPV funding attracts an interest rate of 6 pct and Aquilo will pay a
facilitation fee of 3 pct and an arrangement fee of 3 pct, the company added.
TFN.newsdesk@thomson.com
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