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Corporate Banking Client Stories - The Economist Group

The Economist Group

“Our trusted, long standing, working relationship with Barclays continues to go from strength to strength. During this time they have amassed a great deal of knowledge about our business, the way we operate and the scope of our ambitions.”

Chris Stibbs, CEO, The Economist Group

  • The Economist Group’s long term plan is to develop its Washington based businesses to become the leading provider of content to the US Congress. Part of this plan is the acquisition and integration of appropriate businesses
  • At the height of the recession in 2009, the congressional information service, Congressional Quarterly, came onto the open market. Due to our longstanding relationship with The Economist Group we were invited to join the acquisition team. Responding quickly, Barclays provided a series of flexible financing options, introducing the concept of raising long term funds via investors in the US Private Placement market
  • To provide certainty of funds, we also prepared a complete financial package and restructured their banking facilities
  • The Economist Group’s bid was successful and with a comprehensive funding strategy already in place, they were able to close the deal without delay
  • Attaining Congressional Quarterly was a natural step for The Economist Group, and followed their acquisition of Capitol Advantage for $43m in 2008 – a deal that was wholly funded by Barclays
  • Capitol Advantage together with Congressional Quarterly, are now a fundamental part of the CQ-Roll Call Group.  The Economist is now a leading provider of information to the US Congress, thanks to its capital investment in Capitol Hill
  • "Barclays’ understanding was crucial in helping us achieve a successful outcome for this acquisition, and we look forward to building on this partnership.” Chris Stibbs, CEO.

Contact

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To discuss switching to Corporate Banking at Barclays, call us on: 0800 015 4242*