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York-based builder Shepherd Group has signed a 拢90m refinancing deal with bank HSBC which it says will enable it to continue to pursue its growth plans.

Shepherd, founded in York in 1890, said the financing package would see an 鈥渋ncrease in committed lines from the bank鈥� to support its growth.

The firm, which emerged this year as a creditor of 拢15.5m from the collapse of the Trinity Walk shopping centre in Wakefield, has also cut staff and restructured as the recession has deepened, but made a 拢22.9m pre-tax profit last year.

Terry Smith, group finance director at Shepherd 好色先生TV Group, said: 鈥淭his extensive facility provides us with the flexibility to invest in our business over the coming years. Despite challenging market conditions, we remain well capitalised, and as such we are delighted to be in a position to pursue growth plans.

"As a result of our 40-plus year relationship, HSBC understands our business and our ambitions, and has the unrivalled credentials to support our aspirations. We appreciate their ongoing support.鈥�

David Gregson, HSBC senior corporate banking manager for Yorkshire & North East, said: 鈥淗SBC is delighted to be able to provide further support to our long standing customer.

"The facilities 鈥� which recognise the group鈥檚 financial strength and standing - will allow the management team to pursue their business plans from a sound base and enable them to capitalise on opportunities across their diverse operations.鈥�