Enterprise near £1bn debt deal

BRITISH pub group Enterprise Inns is close to agreeing a refinancing deal for a £1bn bank loan, easing concerns it could be forced to turn to shareholders for cash.

The UK’s second-largest pub company, which has over 7,000 pubs, could announce the deal in the next few weeks and possibly as early as tomorrow, alongside its half-year earnings.

Shares in the group fell 11 per cent on Friday in jittery markets, with its debt refinancing worries adding to the loss of confidence that had battered shares across all sectors in the market.