6th Aug 2008 10:39
Barratt Developments PLC
Final banking documentation effective
Barratt Developments PLC ("Barratt") announces that the final documentation relating to the restructuring of its covenant package with its banks and private placement note providers, announced on 10 July 2008, has been signed and has become effective. Under this documentation, the interest cover covenant is replaced with a cashflow covenant and the gearing and minimum tangible net worth covenants are relaxed. As anticipated, this final documentation also extends the maturity on Barratt's existing £400m revolving credit facility from February 2010 to July 2011.
For further information please contact:
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Barratt Development PLC |
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Susie Bell, Acting Head of Investor Relations |
020 7299 4880 |
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Dan Bridgett, Head of External Affairs |
020 7299 4873 |
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Maitland |
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Liz Morley |
020 7379 5151 |
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Neil Bennett |
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