COMPANIES When NCC Group, a computer security company that generates plenty of cash, went to renew its £15m overdraft facility this month it was in for a big – and unpleasant – surprise.
Although the company is in rude financial health, with revenue and profits growing fast, the borrowing facility cost £200,000 to arrange – 10 times more than a year ago – while the margin doubled to 1.65 percentage points above Libor.
