Product category:
Banking / credit / debt
News Release from: Alliance & Leicester | Subject: Commercial banking
Edited by the Insidemoneytalk Editorial
Team on 17 December 2007
Reflex vehicle solutions reveal new
investment
Treasury based hedging offers protection against future interest rate rises
Reflex, one of the country's fastest growing vehicle rental operators has announced plans to expand its fleet of vehicles via a £7.5million funding facility provided by Alliance and Leicester Commercial Bank.Reflex, which is based in Stockton on Tees, has been in business for four years and has a rental fleet of over 6,500 cars and light commercial vehicles The business provides flexible rental products for a large number of companies and public sector organisations.In addition to the funding, Alliance and Leicester Commercial Bank has also arranged a medium term treasury facility which will protect Reflex against adverse fluctuations in interest rates, and allow for further borrowing to enable the company to fund future growth
This article was originally published on Insidemoneytalk on 2 Nov 2007 at 8.00am (UK)
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Commenting on the deal, John Collins, Managing Director at Reflex said: "In line with our plans to double the size of our business in the next 24 to 36 months we are pleased that Alliance and Leicester Commercial Bank has taken the time to fully understand our business and the terms we have arranged will contribute to us achieving our growth aspirations." Russell Cooper, Senior Business Development Manager for Fleet Finance at Alliance and Leicester Commercial Bank said: "Reflex is a well established company with plans for significant growth and we are delighted to have been able to support their ambitions.
The treasury element of our agreement provides Reflex with the budgetary certainty they will require to achieve their future plans." For further information on the range of financial services available from Alliance and Leicester Commercial Bank, businesses should visit http://www.alliance-leicestercommercialbank.co.uk/.
To speak to the Bank's specialist Wholesale Finance Team, organisations can call Russell Cooper on 0161 953 3326.
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