The group secured finance from German bank Schuldschein Market to replace funding arrangements that are due to mature in 2017 and 2018.

The new loans have a maturity of about five years.

In an update to the markets, Carillion said: “The replacement financing has been secured from the German Schuldschein Market and the £112m of loans received exceeded our target of £100m, further evidencing the strong support Carillion continues to receive in the debt capital markets.

“The loans have an average maturity of approximately five years and a blended interest rate of sub-3%, including fees.

“This further diversifies the group’s sources of funding, provides long-term debt on attractive terms and maintains the group’s strong liquidity position with access to over £1.4bn of funding to support its strategic objectives and development.”