Wolverhampton & Dudley Brewers announced plans to refinance up to £1.05bn debt to increase its financial firepower in a deal which should allow it to boosts its borrowing capabilities. A proposed securitisation is envisaged to raise £530m-£805m, secured against up to 70% of its managed and tenanted houses. The group also wants to put in place a new bank facility of at least £250m. It proposes to complete the refinancing in the current financial year dependent on agreement with its debt holders and interest rates. Wolves closed up 20p at £11.60. Financial Times (Money & Business) 09/07/05 page 4 The Times 09/07/05 page 66 (Need to know)