Lloyds supports RSS with credit line

Cooling services company taps US$15mn for Middle East expansion.

Lloyds Banking Group has provided a US$15mn credit facility to a UK-based power and cooling service provider to support its expansion in the Middle East.

Rental Solutions & Services (RSS) wants to diversify into the wider Middle East to reduce its dependency on Dubai and Abu Dhabi, where its high profile clients include the Jumeirah Palm Islands, the Dubai Metro station, Aldar Abu Dhabi, Masdar University and Burj Khalifa, the world’s tallest building.

The company now provides rental power and temporary cooling in Qatar, Saudi Arabia, Oman, Bahrain, Kuwait, Cyprus and Pakistan. It plans later to expand into Latin America, China, India, Africa and the Mediterranean.