1st Aug 2014 08:28
LONDON (Alliance News) - London and Midlands-focused housebuilder Mar City PLC Friday said it has signed a five a year GBP40 million revolving loan facility with HSBC Bank PLC, which it will use to deliver new homes in its main geographies.
Mar City said the new debt facility will also enable it to deliver its target to build a three- to five-year land bank.
The company said it continues to review a range of strong opportunities which meet its minimum margin intake requirements, while it will also continue to add to its land bank during the second half of the year.
Mar City said it expects to achieve its target of securing at least 3,000 plots by the end of the year.
The stock was quoted up 0.9% at 122.03 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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