Gatwick: RBS finances Transdev growth

The Royal Bank of Scotland Gatwick Corporate Banking Team has provided a £42 million refinance package to Transdev plc to support the business in continuing its UK growth.

Headquartered in France, Transdev is an international company that delivers local public transport services to over one billion passengers each year in more than 70 cities worldwide. Transdev plc is the UK subsidiary of its French parent and is the UK holding company for a number of public transport companies principally operating London routes but also with operations in Lancashire, Yorkshire and Dorset.

To support Transdev plc with their current and future business strategies, Alan Swetman, Head of Large Corporates at RBS Gatwick, worked with the various operating divisions within the Group to deliver a £42m refinance package to meet the Group's needs. The new facilities provide leading edge solutions to support the business and include a revolving credit facility, bonding lines as well as day to day banking and treasury requirements, including an electronic banking package.

Peter Gillespie, Financial Director, Transdev plc commented: "We selected RBS following a comprehensive tendering process. They

impressed us with their attention to detail and industry knowledge, and the process of switching accounts and facilities from our previous banker was remarkably painless."

Swetman, who led the RBS team, commented: "We are delighted to welcome Transdev plc to RBS. The Transdev Group has an excellent record of profitability and cash generation and has a quality

management team with a clear strategy for growth. We look forward to working closely with them in the future."