House builder McInerney said this morning it has agreed a revised loan deal with its banks in the UK.
In a trading statement released earlier in the year the firm advised that agreement in principle has been reached with banks on a new deal.
The facility contains a revised convenant structure which is based on cash collection rath than earnings, which McInerney said was "more appropriate" for current market conditions.
A statement from the company, which focuses on building and selling new homes in the first-time buyer market, said that the deal was signed yesterday.