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Keep up to dateHousebuilder signs £50m extension to £125m revolving credit facility
Bovis Homes has signed a further £50m funding commitment to “take advantage” of opportunities in the housebuilding market.
The housebuilder has signed a £50m extension to the £125 million committed revolving credit facility agreed in January 2013, taking the facility to £175m in total.
The £50m extension, with the existing syndicate banks, expires in December 2015 with the remaining £125m expiring in March 2017.
Housebuilder expects increase in sales of around 30% in 2014
Bovis Homes has posted bumper results, with revenue up by a third and profit up by nearly 50%
Firm says it expects operating margin to hit 15% as completions rise
Pair put pen to paper after beginning discussions in summer
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Scheme is most significant revamp of grade A-listed building since it opened in 1983
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