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HSBC give thumbs up to new Caterpillar Stand

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Representatives from HSBC Corporate Banking visited Welford Road to see the construction team put the finishing touches to the Caterpillar Stand, being developed with £9 million of funding provided by the bank.

With one month to go before the stand is used by 10,000 fans for the first time in the home match against Newcastle Falcons, Leicester Tigers Managing Director David Clayton invited the HSBC team to see the seating being installed, and take a tour of the multi million pound facility.

Maurice Heath, HSBC Head of Corporate Banking, Midlands, said: “Our Leicester team, led by Pete Wood, has been working with the Tigers for over half a century, and we were delighted to support David and the club in this major project, which provides state of the art facilities to one of the greatest clubs in European rugby.

“A visit to a Tigers match at Welford Road is always a special experience, and it is now going to be even better. In addition, through its hospitality facilities, the stand will provide a valuable new venue for the city and wider region’s thriving business community.”

David Clayton, Tigers managing director, said: “While Welford Road already has a special place at the heart of the city’s community, we’re delighted to be able to offer our loyal supporters, the wider community, and indeed rugby fans across the UK this fantastic new facility, representing the first part of our ambitious stadium development plans.

“The Caterpillar Stand will help to cement our status among the top clubs in Europe and we’re grateful to HSBC for their ongoing support in making this financially possible.”

The stand will seat 10,000 fans and has been under construction for a year. This signals the completion of phase one of the stadium redevelopment.

Also joining the tour was Michael Park, partner at Leicester-based Lawyers HBJ Gateley Wareing who provided legal counsel to HSBC on the deal.

He said: “Our Leicester office is used to handling complex deals of this nature and we are proud to have played our part in helping to bring this fantastic new stadium a step closer to reality. This will be a great facility for the Tigers and the whole of Leicester and demonstrates what can happen when local based firms work together on a project.”

The stand officially opens for the first home game of the 2009/10 season against Newcastle Falcons on September 19.