By Richard Hook2018-10-29T17:57:00
St. Modwen has agreed a new £75m loan from Homes England’s Home Building Fund following the extension of the fund announced in the Budget.
The loan has an initial maturity of seven years which can be extended to a maximum of ten years, subject to Homes England’s consent. The additional funding will sit alongside the £475m refinancing to the unsecured revolving credit facility the company announced in December and will support “accelerated delivery of homes and serviced land” across St Modwen’s portfolio.
You must be logged in to continue
Register for free to finish this article
Due to the unprecedented challenge facing our industry at this time propertyweek.com will be entirely free to view to all users until 19 April. Register now to benefit from the following:
To access this article REGISTER NOW
Would you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.