Premium Credit Ltd, a UK-based insurance company that provides financing, has been put up for sale by its owner, the Wall Street Journal reported, citing sources familiar with the matter. The firm, which is owned by Chicago-based private-equity firm GTCR LLC, could be valued at more than $800 million including debt and is likely to attract other private-equity firms, the sources told WSJ. (on.wsj.com/1AlEOcj)Premium Credit has 2 million customers and achieved advances of 3.7 billion pounds($5.91 billion) in 2013, according to the company's website.It was bought by GTCR in 2012 from MBNA Europe, a subsidiary of Bank of America Corp. The company at that time had total asset value of 900 million pounds. (reut.rs/1y60L9W)The acquisition was supported by a consortium of banking institutions which included Barclays Capital, Lloyds Banking Group, Deutsche Bank AG, HSBC Holdings Plc and Societe Generale. The group had committed to provide long-term financing facility to aid Premium Credit's funding obligations and future growth.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 0.76% or $0.13/share to $17.34. In the past year, the shares have traded as low as $13.80 and as high as $18.03. On average, 82866800 shares of BAC exchange hands on a given day and today's volume is recorded at 58608232.
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Shares of DB traded higher by 0.29% or $0.09/share to $30.92. In the past year, the shares have traded as low as $29.24 and as high as $51.99. On average, 1823900 shares of DB exchange hands on a given day and today's volume is recorded at 920762.
HSBC Holdings plc (HSBC) is a global banking and financial services organizations. Shares of HSBC traded higher by 0.68% or $0.34/share to $50.50. In the past year, the shares have traded as low as $48.80 and as high as $56.47. On average, 1625680 shares of HSBC exchange hands on a given day and today's volume is recorded at 1087882.
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