Latham & Watkins advised the joint bookrunners, Citigroup Global Markets Limited and Credit Suisse Securities (Europe) Limited, on a £522 million capital raising by Taylor Wimpey plc, one of the UK's largest residential property developers. The capital raising was comprised of a £515 million placing together with a separate director subscription and retail offer made via the PrimaryBid platform. The capital raising represented approximately 11% of Taylor Wimpey plc’s previously issued share capital.
The transaction builds on Latham’s significant equity capital markets activity in London over the past two months as many London listed companies seek to raise equity.
Latham’s team was led by London corporate partners James Inness and Nick Cline, with associates Sean Meehan and Tom Channing. Partner Ryan Benedict and associate Sarah Youssefi advised on US securities law matters.