Homes Kern completes debt refinancing 277м

  • Homes Kern completes debt refinancing 277м
    Independent.t. E.
    The listed Builder of the houses of Kern, has completed the debt refinancing of the existing € 200 million debt Fund with AIB and Ulster Bank into a new Term loan 277.5 m and a revolving line of credit with AIB, Ulster Bank and Barclays.
    https://www.independent.ie/business/commercial-property/cairn-homes-completes-277m-debt-refinancing-37243705.html
    https://www.independent.ie/business/article36900542.ece/b820a/AUTOCROP/h342/2018-04-17_bus_40160305_I1.JPG

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The listed Builder of the houses of Kern, has completed the debt refinancing of the existing € 200 million debt Fund with AIB and Ulster Bank into a new Term loan 277.5 m and a revolving line of credit with AIB, Ulster Bank and Barclays.

The goal of refinancing is to help business growth and reduce their costs of Finance, said Kern in the statement today.

In addition, the company completed a €72,5 m private placement loan notes with Pricoa capital.

  • Read more: the heads of houses, the core share of €48m in the stock exchange

The term loan and revolving credit line maturing in December 2022, and credit notes, maturing from 2024 and 2026.

The new facilities, secured corporate bonds level.

“We are pleased to deliver this solid and flexible the new loan and to continue our close cooperation with AIB and Ulster Bank, and based on our banking partners with the addition of Barclays and Pricoa,” Tim Kenny, Finance Director of Cairn, said.

“The new facilities will contribute to the further growth of our business and also reduce costs of financing and extending maturities of our debt.”

Last month Bord Pleanála permission for temporary expedited state planning system 828 new homes, and hundreds of student places needs to be developed in three schemes in Kildare and Dublin.

The largest projects of houses the core to deliver 320 homes, apartments and 142 of 483 students places on land that it owns in Mariavilla, on site moyglare road and the Dunboyne road in Maynooth, in County Kildare.

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