Mid-market debt providers defy credit crunch

Royal Bank of Scotland and subordinated debt lender Hutton Collins have provided more than £100m (€148m) of financing to back a restructuring of a UK home improvement company in spite of the concerns of many credit market participants.

The two credit providers have backed the £150m refinancing of house-fittings company Everest, enabling existing management to raise their stakes while allowing the company's largest investor to reduce his stake.

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