Recruitment group PageGroup has secured a £50m invoicing facility with HSBC Invoice Finance to support their growth plans.

Kelvin Stagg, group financial controller and company secretary at PageGroup, says: “In the current economic environment, the markets have changed; up to now PageGroup has always preferred conventional banking facilities under a revolving credit structure receiving competitive pricing for committed facilities.

“A key factor in PageGroup's decision to use HSBC Invoice Finance was their appetite to support the Group's international trading and add value through their ability to provide similar facilities in other countries, increasing the overall availability of funds across the Group."

PageGroup, which had already been an HSBC customer for over 25 years, has 164 offices in 34 countries and more than 5,000 staff worldwide.