Financial Times FT.com

UK groups see credit drying up

By Anousha Sakoui and Maggie Urry

Published: September 11 2008 23:37 | Last updated: September 11 2008 23:37

UK companies are getting nervous. Amid increasing evidence that they believe credit is drying up, Kesa Electricals – one of the Continent’s biggest retailers – made the decision this week to forgo two more years of cheap bond funding, secured back in 2005.

Instead, it opted to pay a higher rate now in order to see the company through another five years – thereby dodging the need to refinance during the deepening economic downturn.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this