Final Banking Documentation E

RNS Number : 7498A

Barratt Developments PLC

06 August 2008

 



Barratt Developments PLC 

Final banking documentation effective

Barratt Developments PLC ('Barratt') announces that the final documentation relating to the restructuring of its covenant package with its banks and private placement note providers, announced on 10 July 2008, has been signed and has become effective.  Under this documentation, the interest cover covenant is replaced with a cashflow covenant and the gearing and minimum tangible net worth covenants are relaxed.  As anticipated, this final documentation also extends the maturity on Barratt's existing £400m revolving credit facility from February 2010 to July 2011.

For further information please contact:

Barratt Development PLC
Susie Bell, Acting Head of Investor Relations	020 7299 4880
Dan Bridgett, Head of External Affairs	020 7299 4873
Maitland
Liz Morley	020 7379 5151
Neil Bennett

 

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