05 March 2015
Telford Homes (AIM: TEF), the London-focused residential property developer, is pleased to announce that the Company has signed a new £180 million corporate loan facility to support its stated growth plans.
This £180 million revolving credit facility, which extends to March 2019, is being provided by the Group's existing banking partners, HSBC, RBS and Santander, together with a new partner, Allied Irish Bank. This enlarged facility replaces the Group's existing £120 million loan facility and provides significantly increased working capital flexibility at a lower cost of debt.
Katie Rogers, Group Financial Director of Telford Homes Plc, said: "The Board is very pleased to announce today that the Group has successfully negotiated a new and improved £180 million corporate loan facility that not only offers increased flexibility on site purchases and development funding but, importantly, allows the Group to facilitate its growth plans over the next few years. This new facility clearly demonstrates our banks' continued confidence in Telford Homes as well as the overall strength of the London property market."
For Further information:
|Telford Homes Plc|
Jon Di-Stefano, Chief Executive
Kate Rogers, Financial Director
Tel: +44 (0) 1992 809 800
|Shore Capital - Nomad and Joint Broker|
|Pascal Keane / Patrick Castle||Tel: +44 (0) 20 7408 4090|
|Peel Hunt LLP - Joint Broker|
|Alex Vaughan / Hugh Preston||Tel: +44 (0) 20 7418 8900|
|Henry Harrison-Topham / Canace Wong||Tel: +44 (0) 20 7398 7710|
For further information, please see www.telfordhomes.london