Brightside in senior debt re-financing

Brightside Group has completed a senior debt re-financing lead by Clydesdale Bank Corporate and Structured Finance.

Clydesdale has become Brightside’s principal relationship bank and senior debt provider for its premium finance subsidiary, Panacea Finance.

AIM listed Bristol-based broking group Brightside specialises in van, motor, house, taxi and bike insurance as well as premium finance.

Brightside chief executive, Paul Chase-Gardener, said: “This is an important step forward for our company.

"Clydesdale are helping to provide extra capacity to our premium finance business at a time when premiums are rising in the market and payment plans are increasingly important as part of our offering."

Clydesdale director John Holm added: “We are delighted to assist [Brightside] in the growth of their business.

"Clydesdale continues to grow its presence in the UK insurance sector, an area where we see continued growth and opportunities.”