Saga, the specialist travel group and insurer for the over-50s, said today it would borrow more money from its chairman, ahead of a £150 million bond repayment, having dropped plans to sell its underwriting business.
Sir Roger De Haan will now lend the company up to £85 million, an increase of £35 million. Saga said the arrangement would “provide additional financial flexibility”. It was also extended until the end of 2025, with the bond due in May 2024.
