Cairn Homes borrows €194 million under revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, March 30 – Cairn Homes plc has in recent weeks drawn down the available €194 million of its €200 million revolving credit facility, according to a news release.

The company had net debt of €91.2 million at Dec. 31, 2019, comprising drawn debt of €148 million and available cash of €56.8 million

Cairn also announced that it is closing all of its residential construction sites until April 12 in line with Irish government guidelines addressing the Covid-19 pandemic.

Based in Dublin, Cairn designs and constructs new build homes around Ireland.

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