Ashurst has advised RBS on its £30 million funding to South Yorkshire based Norton Finance, which will be used to refinance its existing debt and support its continued expansion plans. Norton Finance specialises in broking, first and second mortgage lending and debt management services.

This funding is the first transaction undertaken by RBS CIB's new Financial Institutions Structured Finance team. RBS has appointed Nick Parkhouse to head up the team that includes Veronika Lovett as director and Michael Murray, who previously worked in the securitisation team at Westpac, as an associate director.

The Ashurst team was led by finance partner Lee Doyle, assisted by senior associate Zoe Smallman.