Towergate is planning a £1bn refinancing of the business to help to fund new acquisitions, according to reports.
The group is understood to be looking to arrange a to extent its borrowing facility to a figure of around £1bn through several banks. In November 2006 it raised £580m, courtesy of principal backer HBOS and Lloyds TSB, for acquisitions.
Despite a string of high profile purchases, £100m of this pool remains.
The new facility will be used to fund acquisitions and restructure existing debt.
In December, a spokesman for Towergate said that the company anticipated the completion of the refinancing by the end of the first quarter of this year.
Reports have also suggested that the broker is looking for new investors to take a stake in the business.
