McCarthy &amp; Stone has completed a major refinancing deal to enable delivery of its growth strategy. The retirement housebuilder has refinanced its existing liabilities totalling £518.9 million, to reduce the firm’s debt by £350 million. <br><br>The firm’s shareholders have provided £527 million of refinancing to the business, through a five-year loan facility to refinance the remaining £160 million debt, and by injecting £367 million of new equity. <br><br>The deal will pay down the company’s outstanding liabilities and transaction costs. The housebuilder has ringfenced £1.5 billion for land and build investment through to 2018, and aims to purchase around 250 sites across the UK during this time.