HOUSEBUILDER Taylor Wimpey has finally completed a refinancing of the business.
The firm has been struggling under a £1.53bn debt pile – but approval from bondholders leaves it with bank facilities totalling £2.47bn.
Taylor Wimpey also confirmed pre-tax losses of £1.97bn for 2008 following huge write-downs on its landbank and goodwill on the 2007 merger which created the firm at the top of the market.
Chief executive Pete Redfern said the company could face the challenges of 2009 with confidence.
