Broker boosts acquisitions war chest.
See analysis: Squaring the Oval & Oval buys two brokers
Oval has refinanced its acquisitions war chest with a £115m debt facility, led by Lloyds TSB and Barclays.
The consolidator has been looking to complete its refinancing for some time.
The deal will enable Oval to continue its acquisition strategy next year.
Lloyds TSB confirmed the deal. “The money is the total that can be drawn down within certain parameters,” said Sebastian Kafetz, relationship manager in the financial institutions team at Lloyds TSB Corporate Markets.
Oval could not be contacted for comment.
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