Royal Mail moves towards privatisation with proposal of £1.5bn loan IPO

(Source: Reuters)

Reuters reports that banks have been asked to gauge the appetite for a £1.5bn loan to back the privatisation of Royal Mail.

A group of around 10 banks are looking at the financing, which is expected to consist of a revolving credit facility and a term loan and will provide working capital to the group before its planned stock market flotation, two senior bankers said.