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Builders get Into Recovery Mode And Raise £900m - Evening Standard

HOUSEBUILDERS Barratt Developments and Redrow today tapped the City for almost Pounds 900 million amid signs business is returning to levels not seen since before the collapse of Northern Rock.

Barratt launched a Pounds 720.5 million fundraising to pay off debts, build new houses and buy land while rival Redrow went to shareholders for Pounds 156 million.

Commercial property firm Liberty International, which owns Covent Garden and shopping centres around the UK, added to the City fees bonanza with a Pounds 305 million share placing.