RBS Invoice Finance will also help with a three-year simplification and growth programme

The deal is done

Ageas Retail has secured a £150m syndicated loan from RBS Invoice Finance, Insider Media reports.

RBS Invoice Finance acted as the lead arranger for the loan and will help the company with its three-year simplification and growth programme.

Ageas Retail finance director Nick Lemans said: “This is quite a landmark deal for Ageas Retail and one that required a complex financial solution in place to allow us, as a business, to merge our IT systems and streamline multiple entities into one business with three distinct channels.

“This will enhance our service offering to our customers and simplify our business operation.”

RBS Invoice Finance corporate business development director Oliver Wilson said: “The Ageas team can operate the business knowing the revolving receivable facility is there to support their working capital requirements and to see this project to fruition.”