Published Date: 06 July 2008 BARRATT boss Mark Clare will this week attempt to reassure shareholders that he has put the brakes on its spiralling debt problems when he is expected to announced a £400m refinancing deal with lenders. But analysts are already warning that it will not be enough to secure the housebuilder's future in the long-term. Fears are also growing that Persimmon, which the City had thought was in a better position, will be forced to declare large-scale redund ancies. Clare is expected to confirm that lenders, including the Royal Bank of Scotland and HSBC, have agreed to a deal that would allow it to delay until 2011 payment of two thirds of a £600m acquisition package it borrowed last year, without having to raise further equity. The full sum, which was raised to finance the takeover of rival housebuilder...
[read full story]
Your Web Site
