Laing O'Rourke agrees refinancing with lenders

摘要

Laing O'Rourke has agreed terms with its lenders to secure new financing until 2022. Accounts for the last financial year are now more than three months overdue, but will be published once new financing for Laing O'Rourke's UK business has been finalised, it said. Refinancing for its Australian business was completed in mid-2018. Chief executive Ray O'Rourke (pictured) told Construction News in October that the lending market was moving "slowly" and that auditors would not sign off the company's accounts until the new financing had been agreed. In this week's update, he reiterated that the difficulty of securing new finance remained a serious threat to the sector.