RBS: open for business in the mid-market

RBS's recent decision to halt leveraged lending only pertains to large ticket deals, with its mid-market business unaffected, according to a recent statement from RBS dated 2 March 2009:

"It has been reported that as part of the strategic review, The Royal Bank of Scotland will be exiting its participation in the leveraged finance markets. The Bank will continue to support the mid-market UK private equity sector through its corporate & structured finance (CSF) UK team which has since 2002 supported, alongside private equity investors, the acquisition, development and growth of over 350 corporate businesses. Typically, transactions involve UK businesses with enterprise values of up to £300m, and debt provided by relationship banks often on a bilateral or club basis, but without the need for general market syndication.

In 2008, the CSF UK teams undertook 65 transactions providing over £1.6bn of leveraged acquisition, trade and growth debt capital. Indeed, during the first 8 weeks of 2009, RBS has supported the acquisition of companies in the media, telecoms and business services sectors."

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