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Taylor Wimpey completes £1.05 billion refinancing credit facility
By Sara Rosenberg
New York, Dec. 15 - Taylor Wimpley plc closed on its £950 million revolving credit facility and £100 million term loan that were used to refinance existing debt, according to a news release.
Pricing on the revolver ranges from Libor plus 225 basis points to 375 bps based on the company's gearing level, and pricing on the term loan ranges from Libor plus 450 bps to 500 bps.
Of the total revolver amount, £350 million matures in July 2012 and the remaining £600 million matures in November 2014.
The term loan matures in June 2015.
Taylor Wimpey is a U.K.-based homebuilder.
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