INTERVIEW: Private & Commercial Eyes Significant Bank Facility

By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. finance house Private & Commercial Finance Group PLC (PCF.LN) wants to double its GBP120 million banking facilities, Chief Executive Scott Maybury said Tuesday, adding it is seeking a "game changing facility" that would give it the firepower needed to become a market consolidator. "It's only with that increase that we could become a market consolidator and grab market share," Maybury said. "We wouldn't sniff at a GBP5 million or GBP10 million facility but we're thinking bigger than that. We want a game changing facility." Maybury added that while its existing banks are supportive, it would be approaching new banks for the funding including institutions in economies less affected by the global recession such as India, China and Australia. Other forms of funding--such as the bond market and securitization--aren't off the cards either. "Funding could take one of several forms," Maybury said. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires June 29, 2010 05:11 ET (09:11 GMT)