Completion of Financing of Oakhurst Manor
Posted by tnhat 00:00, February 9 2012.

9 February 2012

Trafalgar New Homes Plc ("TNH" or the "Company")


Completion of Financing of Oakhurst Manor




Oakhurst Manor

The Directors are also pleased to announce the completion of the financing of the development of Combe Bank's site at Oakhurst Manor, Bank Lane, Hildenborough, Kent. The 4.2 acre site has planning permission for the construction of twelve residential units. A facility agreement has been entered into with Banif-Banco Internacional Do Funchal S.A., providing for a maximum loan of GBP3,478,000 to be made available at an interest rate of 3.75 per cent over three month libor. The funding to be provided under the agreement will repay all existing borrowing relating to the property and will provide 100 per cent of the build cost of the project.


THE DIRECTORS OF TRAFALGAR NEW HOMES PLC ACCEPT RESPONSIBILITY FOR THIS ANNOUNCEMENT.

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Enquiries:

Trafalgar New Homes Plc
Christopher Johnson
+44 (0)1732 700000

PLUS Corporate Adviser
Peter Ward/Alex Brearley
+44 (0)20 7638 5600



Trafalgar New Homes Plc

(END) Dow Jones Newswires

February 09, 2012 10:03 ET (15:03 GMT)