Increased credit headroom doesn’t lift Redrow shares

The price of shares in FTSE 250 housebuilder Redrow (LON:RDW) fell by 4.50% to 390.20p (as of 12:00 BST) after the firm concluded negotiations for an additional £100 million in funding under its existing revolving credit facility. This brings the facility to a total value of £350 million which matures at the end of 2022. This expanded facility is in addition to the Covid-19 Corporate Facility announced earlier this month.