Fleet News

Cowie signs big loan deal

COWIE Financial Holdings, which comprises Cowie Interleasing, has signed a five-year loan facility of £200 million to be used in funding its growing contract hire, finance and leasing operations.

The banking market offered Cowie substantially more than the £200 million requested, which is at far more favourable interest margins and replaces a £200 million credit facility signed by Cowie in May 1994. It is in addition to a four-year, facility for £175 million signed a year ago.

Cowie Interleasing managing director Neil Pykett said: 'Growth in the contract hire fleet of Cowie Interleasing has been encouraging so far this year and the fact that the facility as on previous recent occasions, was considerably over-subscribed is a further positive reflection on the prospects of Cowie Group.'

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