Tuesday 30.06.2009

Halliwells Advises on Styles & Wood Refinancing

Law firm Halliwells has advised Styles & Wood Group plc on the refinancing of the company - with the open offer which accompanied the debt for equity restructuring over subscribed by 42.8%.
The refinancing comprises a £10.0 million placing, an open offer of approximately £2.15 million, a £22.66 million debt for equity swap, new bank facilities of £10.9 million and a share capital consolidation.

Halliwells' team was led by corporate partner Charles Glaskie and also comprised banking partner Susan Molloy, corporate associate Lisa Stavropoulos and corporate solicitor Jemma Bolton.

"Shareholders have shown their enthusiasm for this refinancing which has secured the company’s position as one of the leading players in the property services market," said Charles Glaskie.

He added:
"Styles & Wood is a long standing client of the firm and we are delighted to have advised on this transaction."

Ivan McKeever, Chief Executive of Styles & Wood, commented:
"The Halliwells team was first rate from start to finish."

About Halliwells

Halliwells is a national law firm providing a range of multi-disciplinary legal services.



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