RSA secures £500m bank debt facility

RSA has secured a £500m, five-year debt facility from a syndicate of banks.

The new funding replaces RSA’s existing £455m facility, which was due to expire in March 2013.

RSA group chief financial officer Richard Houghton said: “With banks remaining cautious about new lending, this new, larger facility is a strong endorsement of RSA’s balance sheet and financial strength.”