Stephen Hodges, Group Managing Director said "This transaction is an important milestone for Close Brothers. It further diversifies our sources of funding and provides access to a deep and liquid pool of new investors. This will enable us to continue to grow our specialist banking business with confidence."

The Euro FRN was the inaugural issue under a new medium term note programme, which Close Brothers recently completed. Close Brothers, which is strongly capitalised, has consistently diversified the ways in which its loan book is financed. The Euro FRN was arranged by Barclays and Danske and is rated 'A3' by Moody's and 'A' by Fitch. Close Brothers will pay 24 basis points over three-month Euribor.

The issue followed a 'road-show' to nine European cities, which was well attended by institutions, many of which were new investors, interested to hear about Close Brothers' differentiated approach to banking. Indeed over 70% of the issue was placed with new investors.

Close Brothers Limited has grown its loan book every year for more than 20 years and has a consistently high (25-35%) return on capital. Activities include insurance premium finance, specialist asset finance (e.g. printing, healthcare, transport and engineering sectors), property finance and invoice discounting.

Further Enquiries:
Stephen Hodges, Close Brothers Limited - 020 7426 4000
Rupert Young, Brunswick Group Limited - 020 7404 5959