CC, Slaughters and Davis Polk take on top roles on £510m Taylor Wimpey fundraising
Clifford Chance (CC), Slaughter and May and Davis Polk & Wardwell have all won roles advising on troubled house builder Taylor Wimpey's £510m fundraising. The fully underwritten placing, which is subject to shareholder approval this month, will cut the company's debt by around one-third. Slaughters reprised its role for regular client Taylor Wimpey, with corporate partner Jeff Twentyman leading the firm's team. Davis Polk advised the house-builder on US aspects, with London-based corporate partner Nigel Wilson advising.
May 20, 2009 at 10:43 PM
2 minute read
Clifford Chance (CC), Slaughter and May and Davis Polk & Wardwell have all won roles advising on troubled house builder Taylor Wimpey's £510m fundraising.
The fully underwritten placing, which is subject to shareholder approval this month, will cut the company's debt by around one-third.
Slaughters reprised its role for regular client Taylor Wimpey, with corporate partner Jeff Twentyman leading the firm's team. Davis Polk advised the house-builder on US aspects, with London-based corporate partner Nigel Wilson advising.
CC, meanwhile, took the lead role for the underwriting bank – advising JP Morgan Cazenove as sole underwriter and sponsor on the placing. London corporate finance partner Lee Coney took the lead on UK aspects of the deal, working alongside fellow London corporate finance partner Chris Walton on US aspects.
The fundraising comes only weeks after Taylor Wimpey renegotiated £2.47bn of debt facilities in a deal which generated roles for Slaughters, Davis Polk, Allen & Overy and Ashurst.
Coney said: "The difficult piece was the negotiation around the debt restructuring but the new equity is also important and is good news for the company, putting it in a good position to ride out the rest of the storm and benefit from any recovery."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Lawyers React To India’s 2025 Budget, Welcome Investment And Tax Reform
Quartet Of Firms Secure Roles as LG Group’s IT Services Arm Lists for $823M
A&O Shearman, White & Case Advise on €1.2B Public Takeover of German Steel Giant Salzgitter
3 minute readTrending Stories
- 1ACC CLO Survey Waves Warning Flags for Boards
- 2States Accuse Trump of Thwarting Court's Funding Restoration Order
- 3Microsoft Becomes Latest Tech Company to Face Claims of Stealing Marketing Commissions From Influencers
- 4Coral Gables Attorney Busted for Stalking Lawyer
- 5Trump's DOJ Delays Releasing Jan. 6 FBI Agents List Under Consent Order
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
