N Brown Group receives £50m refinancing From RBS


N Brown Group receives £50m refinancing From RBS

The Royal Bank of Scotland (RBS) has refinanced an existing £50m bilateral revolving credit facility (RCF) for Manchester based N Brown Group plc (N Brown).

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30 November 2011

 A client since the 1980s, N Brown is a leading international direct retailer offering womenswear, menswear, footwear and home and leisure products. Its portfolio of brands includes JD Williams, Simply Be, Figleaves, High & Mighty, Jacamo and Marisota.

The new £50m facility is part of a larger £100m funding deal with the company's other banking partner HSBC. The new funding will help support the business with its future growth plans, both in the UK and overseas.

Dean Moore, finance director at N Brown, said: "RBS has enabled us to achieve our stated goals and objectives and as a long standing customer we view RBS as a key business partner for the foreseeable future as we continue to grow our business and product range."

Steve Lewis, regional director RBS Corporate & Institutional Banking, added: "We are delighted to have refinanced N Brown's existing facilities to meet the needs of its growing multi-channel retail business. This is very much in line with our strategy to support quality businesses with a proven and highly effective management team. N Brown's niche as an outsize clothing retailer has so far proved resilient in what has been a very difficult trading environment for many retailers. We are always happy to provide solutions that enable our customers to compete on the world stage. N Brown is a valued customer and I look forward to an even closer relationship as we continue to support them through the next stage of their development."

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