Credit card protection specialist CPP Group has secured £130m funding from regional banks to fund its expansion across Europe, Asia and North America.
CPP employs 1,200 people at its York HQ.
The five-year deal was structured in the region by Mandated Lead Arrangers Barclays, Lloyds TSB Corporate Markets, HSBC, Royal Bank of Scotland and Allied Irish Bank.
CPP specialises in providing card pr
otection, identity theft protection and mobile phone insurance.
Last year, its UK revenues were up 16.7 per cent to £136m, while globally the group turned over £225.2m, up 14 per cent on the previous year.
The firm has 10.6 million customers and works with more than 280 business partners across 12 countries. It has just announced the opening of its third UK-based contact centre in Chesterfield, after York and Tamworth, Staffordshire.
Shaun Parker, CPP's group finance director, said: "Despite difficult lending markets, this new debt package is testament to the quality and strength of our business. The CPP Group is performing very well and we have delivered double-digit growth in revenue and profit for the last few years.
"As we continue to pursue an aggressive growth strategy, both in the UK and abroad, I am delighted that we have the strong support of five major banks. This deal which has been put together locally is a further indication of Yorkshire's strength as a financial and banking market."
Eric Woolley, CPP's group chief executive, said: "Over the last year we have conducted a thorough strategic review of our business, and this debt package was our preferred route to invest in the business and return cash to shareholders.
"In 2007, we took the first steps to establish CPP in India and preparations are at an advanced stage to launch in Taiwan. In 2008, Mexico and China are also being evaluated as possible future opportunities."
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