M&G loans £100m to Stobart

M&G Investments yesterday said it had arranged for its UK companies financing fund to extend a 10-year £100m loan to logistics firm Stobart Group. The loan will be used to pay down Stobart’s existing bank debt and to fund further investment, including developing Southend Airport, which was granted consent for a runway extension in March. M&G received financial advice on the loan from Panmure Gordon’s debt advisory team.