Press Association

READ ALL ABOUT IT!  National news agency secures major funding package from Lloyds TSB Corporate Markets

The Press Association, the UK’s leading multimedia news and information provider, based in London and Howden, Yorkshire, has just secured a multi-million pound funding package from Lloyds TSB Corporate Markets following the decision to move its banking arrangements.

The funding package was put together by Lloyds TSB Corporate Markets in Leeds, headed up by Richard Townsend (Relationship Director) and Jamie Allison (Business Development Director). 

Founded in 1868, the Press Association, owned by PA Group Ltd, supplies everything from breaking news and showbiz interviews to real-time sports results and the weather forecast.  The Press Association is now a digital business, with the ability to supply tailored text, pictures and video for use on any platform.

Richard Townsend, Relationship Director, Lloyds TSB Corporate Markets, said: “When you think of Howden in East Yorkshire, you automatically think of the Press Association and we are very proud to be working with such a well established business. This deal demonstrates that despite the current economic climate, Lloyds TSB Corporate Markets is able to support good quality local businesses, which have a clear vision for the future.”

Steven Brown, Managing Director, PA Group Ltd said: “Howden is the base for our sports news and data business, production unit and training centre as well as the headquarters of our accountancy and treasury options.  It was clear to us that we needed a Yorkshire-based bank, which both understood the sector, our business and could provide us with the right deal.  Lloyds TSB Corporate Markets fitted those criteria to the letter.  The Bank’s team, led by Richard Townsend and Jamie Allison, has been superb.  We have been very impressed with the levels of support we have received from day one. We are very much looking forward to continue working with the Bank closely in the future.”