Inland Homes PLC - Southern England-focused brownfield developer, housebuilder and partnership housing company - Says it has advised HSBC Holdings PLC that it considers that its subsidiary, Inland Homes Developments Ltd, is in breach of certain historic and forward looking covenants in relation to a debt facility of GBP13.6 million provided to that company. The facility is guaranteed by Inland Homes.
The total amount drawn under this facility from HSBC to date is GBP11 million. Inland Homes says it is in active discussions with HSBC regarding waivers for the breaches and a further announcement will be made in due course.
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By Holly Beveridge, Alliance News reporter
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