National Express first off line with Sonia loan

By Mike Turner
01 Jul 2019

The UK’s National Express has become the first company to sign a loan benchmarked against Sonia, as part of NatWest’s pilot programme to shift away from the scandal-hit Libor standard.

The size of the bilateral revolving credit facility for the transport firm is in the tens of millions of pounds, according to a source with knowledge of the transaction, who stopped short of revealing the full size and maturity.

NatWest said last month that it would offer loans of ...

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