Towergate looks to bond markets to refinance debt with £396m deal

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In a statement the broker explained: "Towergate can confirm that it has launched a further bond offering to investors. 

"It is intended that the bond issuance, if successful, will be utilised in the refinancing of certain existing debt instruments."

It understood that Towergate Finance hopes to secure two bond notes, both worth some £200m, which will mature in February 2018.

Last week, Towergate posted a £6.1m group pre-tax loss for 2012, substantially down on the £75.5m loss recorded in 2011

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