Coronavirus: Buyout giants to get lifeline from new loan scheme

Some of Britain’s biggest privately owned companies will get a lifeline on Friday when they are given access to a new emergency scheme which allows them to borrow up to £50m of government-guaranteed debt.

Sky News has learnt that the Treasury has decided to allow companies which are majority-owned by major private equity groups to access the Coronavirus Large Business Interruption Loan Scheme (CLBILS) on an individual basis.

Buyout firms had been uncertain about whether a single £50m loan cap would be applied across a financial sponsor’s entire portfolio of investments.

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