TEF Telford Homes Plc

TIDMTEF

RNS Number : 6719Z

Telford Homes PLC

18 December 2017

 
   18 December 2017 
 

Telford Homes Plc

('Telford Homes', the 'Company', or the 'Group')

New GBP210 million corporate loan facility

Telford Homes Plc (AIM: TEF), the London focused residential property developer, is pleased to announce that it has signed a new GBP210 million corporate loan facility to support the Group's growth plans.

This GBP210 million revolving credit facility, which extends to December 2022, is being provided by the Group's existing banking partners RBS, HSBC, Santander and Allied Irish Bank. Telford Homes also has the flexibility to increase the facility at a later date by requesting to utilise an additional GBP30 million accordion tranche. This enlarged longer term facility replaces the existing GBP180 million loan facility that was due to expire in March 2019 and has been secured at a lower rate of interest thereby reducing the Group's cost of debt.

Katie Rogers, Group Financial Director of Telford Homes Plc, said: "I am delighted to announce the successful negotiation of a new GBP210 million corporate loan facility. The longer tenure and additional funding will give the Group further flexibility on site purchases and development capital allowing Telford Homes to continue to grow. This new facility demonstrates our banks' continued confidence in the Group and our strategy."

- Ends -

For more information contact:

 
 Telford Homes Plc                          Tel: +44 (0) 1992 809 
                                                              800 
 Jon Di-Stefano, Chief Executive          www.telfordhomes.london 
 Katie Rogers, Financial 
  Director 
  Guy Lambert, Head of Corporate 
  Communications 
 
 Shore Capital (NOMAD and                    Tel: +44 (0) 20 7408 
  Joint Broker)                                              4090 
 Dru Danford / Patrick Castle 
 
 Peel Hunt LLP (Joint Broker)                Tel: +44 (0) 20 7418 
                                                             8900 
 Charles Batten / Capel Irwin 
 
 Media enquiries: 
  Buchanan (PR adviser)                      Tel: +44 (0) 20 7466 
  Henry Harrison-Topham /                                    5000 
  Victoria Hayns / Steph Watson      telfordhomes@buchanan.uk.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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