Cairn Homes Announces Bank Facility

RNS Number : 4695H

Cairn Homes plc

01 December 2015

 



Press release                                                                                                           

Cairn Homes Plc

Cairn Homes Agrees €150m Senior Debt Facility

Dublin/London, 1 December 2015: Cairn Homes Plc (LSE:CRN), ("the Company") the Irish homebuilder, today announces that it has agreed a new €150 million senior debt facility ("Facility") with Allied Irish Banks p.l.c. 

The new Facility, which has a four year term, is secured against a corporate level debenture and will be used by the Company to fund acquisitions and growth.

Eamonn O'Kennedy, Finance Director, of Cairn Homes said;

"We are delighted to announce our first senior debt facility just under six months after our IPO.  This facility secures flexible and efficient funding for Cairn Homes for the next four years."

-ENDS-

For more information please contact:      

Cairn Homes plc                                                                                              [phone]

Michael Stanley

Eamonn O'Kennedy

Hume Brophy                                                                                                   [phone]

Maria Cryan

Edel Bach  

Notes to Editors

Cairn Homes plc is an Irish homebuilder with a highly experienced management team. The Group is committed to constructing high quality new homes with an emphasis on design, innovation and customer service. The Group expects to acquire greenfield or brownfield sites in Ireland that are suitable for residential development, with an emphasis on Dublin and the Dublin commuter belt, as well as in Cork and Galway and other major urban centres, as appropriate. www.cairnhomes.com     

 

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