New finance deal for Keepmoat

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Keepmoat, the Doncaster-based community regeneration and social housing group, has announced a refinancing programme and a change of chief executive.

Ian Sutcliffe is stepping down from the post he has held for less than a year and has been replaced by Dave Sheridan, who was chief executive of Apollo, the southern based group with which Keepmoat merged earlier in the year.

Thanks to the refinancing, debt has been significantly reduced, facilities have been extended and the group has a new £125 million revolving credit facility to allow it to take advantage of market opportunities.