Direct Line could raise £500m ahead of flotation

Coin stacks

The newspaper reported that the company has asked RBS, Citigroup and HSBC to arrange meetings with investors in an effort to sell between £250m and £500m of debt.

Direct Line currently has no debt, but is expected to take some on as part of a reorganisation of its structure before its listing.

Raising debt could allow the company to pay a dividend to parent company RBS, which is expected to receive a dividend of up to £1bn from Direct Line ahead of the flotation, which is to take place before

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