14th Mar 2014 13:06
LONDON (Alliance News) - Housing developer Crest Nicholson Holdings PLC said Friday that is has signed a new banking facility to replace its existing senior facilities.
Crest Nicholson said the new banking facility comprises a GBP200 million revolving credit facility and a GBP80 million ancillary facility.
It said the new facility has a term of five years, repayable in March 2019, and will replace its existing senior facilities of a GBP100 million revolving credit facility and a GBP40 million ancillary facility, which was due to be repaid in December 2016.
The company said the banking syndicate for the new facility includes the original lenders Barclays PLC, HSBC Holdings PLC and Lloyds Banking Group PLC and a new lender, Royal Bank of Scotland Group PLC.
Crest Nicholson shares were trading 0.6% higher Friday afternoon at 360.50 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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