Bank of Ireland has agreed to provide $30 million to venerable toy maker Corgi to help the company expand its operations.  Ciarán Hancock, Business Affairs Correspondent, reports.

Corgi International, which makes die cast models of cars and aircraft and a range of Harry Potter gifts, has raised $39.3 million in debt and equity to fund its expansion.

On Tuesday, Burdale Financial Ltd, a UK-based subsidiary of Bank of Ireland, finalised arrangements for a three-year asset-based credit facility for a maximum of $30 million. "We are extremely pleased to have completed these financings, which we believe position us well to execute our growth plans for the future, and leverage the combined channels and assets of our merged companies," said Michael Cookson, Corgi's chief executive. Dennis Levine, Burdale's chief executive, said: "Burdale looks forward to working with the Corgi management team as they execute their expansion plans."

Corgi was founded in 1956 in England and is one of the oldest makers of collectible die-cast models of trucks, buses, cars and aircraft. It is renowned for producing models of James Bond cars. Listed on the Nasdaq in the US, it now comprises Corgi; Master Replicas, which produces movie props; and PopCo, which makes gifts and toys for a number of groups including Disney and Harry Potter.