Crest Nicholson approved for £300m BoE facility
Crest Nicholson Holdings
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Crest Nicholson has been approved for a £300m facility under the Bank of England's covid corporate financing programme.
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The housebuilder said the facility was undrawn and it would use it to provide liquidity if needed. Under the scheme the BoE buys demonstrably healthy companies' short-term debt, known as commercial paper, to allow them to meet liabilities.
Crest Nicholson said it would announce its half-year results on 24 June. The company started reopening its sites a month ago as the government's Covid-19 lockdown started to ease.