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LONDON (Alliance News) - Cairn Homes PLC on Friday said it has increased its senior debt facility to EUR200 million from EUR150 million, following the admission of Ulster Bank to its banking group.
The amended facility, which has a four-year term, is on the same terms as before.
"We are delighted that Ulster Bank has decided to join AIB in our banking group just three months after we announced our first senior debt facility. This increase to our existing facility secures additional flexible and efficient funding for Cairn Homes for the next four years," Finance Director Eamonn O'Kennedy said in a statement.
Shares in Cairn Homes were untraded on Friday morning, last quoted at 1.17 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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