Barlow Lyde & Gilbert has advised Barclays Bank on a £16m equity and debt funding package for the 1st Credit debt management group – the firm’s third deal for the client since being appointed to the new Barclays business lending panel last summer.

Barclays was the senior debt provider and agreed to provide loan and ancillary facilities of up to £11m to certain companies within the 1st Credit group, a separate company that takes on distressed credit control.