Wednesday, Sep 23, 2009

Make Hay While The Sun Shines (For The Clouds They Are Gathering)

The Times: Property sector seeks £1.17bn in second wave of fundraising

Barratt Developments, Redrow and Liberty International all announced share issues today to bring down their debts and finance expansion in the second wave of fundraising to hit the sector.
Barratt Developments will raise £720.5 million through a placing and rights issue as part of a deal with its banks to extend the due date on its debt. Today's rights issue is over £200 million more than the company was predicted to raise
The company, which sells 1,000 houses a month and has £1.3 billion in debt, has said previously that it would not look to raise funds until markets had stabilised, but, with the housebuilding sector showing signs of improvement, it has decided to act.

Posted by charlie brooker @ 08:46 AM (649 views)
Add Comment
Report Article

1 Comment

1. Exiges said...

"Barratt's fundraising was announced alongside its full-year results, in which it reported a £679 million loss in the 12 months to June 30"


But don't worry.. mortgage approvals are up 81% !!

Wednesday, September 23, 2009 10:32AM Report Comment

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of
  • Please adhere to the Guidelines
Admin Password
Email Address

Main Blog | Archive | Add Article | Blog Policies