Cairn Homes has completed a refinancing that sees its debt facilities grow from €200m to €350m (£314m) via new bank debt and a private placement.
The Irish homebuilding company has replaced its €200m senior debt with Allied Irish Banks and Ulster Bank with a new €277.5m term loan and revolving credit facility with Allied Irish, Ulster Bank and Barclays Bank Ireland.
Additionally, the company completed a €72.5m private placement of loan notes with Pricoa Capital Group.
