Birketts advises Denbury Homes in securing £55m credit facility
9 May 2024
Birketts’ Banking and Finance and Commercial Real Estate Teams have advised Denbury Homes in securing a revolving credit facility of £55m.
The deal, which completed on 22 April 2024, secured the facility from HSBC UK Bank Plc for the purpose of refinancing existing developments, and providing further financing for the acquisition and development of future sites to bring projects forward for Denbury Homes to build up to 450 homes a year, by 2029.
The Birketts Banking and Finance Team was led by Devreaux Gravell (Partner), who was supported by Susan Mitchell (Legal Director), Kathryn Palmer (Senior Associate), Andrew Choi (Solicitor) and Sofia Mitrofan and Bethany Slack (Trainees).
The Birketts Commercial Real Estate Team was led by Nick Pickersgill (Partner), who was supported by Matt Grindley, Jamie Coulthard and Julia Harlock (Senior Associates), Megan Simpkins (Solicitor) and Elizabeth Toloui (Paralegal).
On the deal, Devreaux and Nick said: “We are delighted to have acted on this revolving credit facility for Denbury Homes. It was a pleasure working with Luke Coppen and the Denbury Homes team on this deal that will set it up for the years ahead.”
Luke Coppen (Finance Director) for Denbury Homes, said: “The team at Birketts provided sound advice to obtain the facilities Denbury Homes required to support our growth plans, which will allow us to significantly increase the number of quality homes in the communities we build in.”
-
Devreaux Gravell
-
Susan Mitchell
-
Kathryn Palmer
-
Andrew Choi
-
Sofia Mitrofan
-
Bethany Slack
-
Nick Pickersgill
-
Matthew Grindley
-
Jamie Coulthard
-
Julia Harlock
-
Megan Simpkins
-
Elizabeth Toloui
