Member Article

London property developer Telford Homes secures £180 million loan facility

London-based residential property developer, Telford Homes, 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.”

This was posted in Bdaily's Members' News section by Ellen Forster .