Barratt refinances ahead of time

House builder Barratt Developments impressed investors yesterday by agreeing a new loan facility of £850m and paying off private placement notes ahead of schedule. FTSE 250-listed Barratt said the measures will help it become free of net debt by 2015. The firm has also cancelled £55m of interest rate swaps. Shares in the group closed up 5.7 per cent at 329.1p yesterday.