Slaughter and May advised Derwent London on its convertible bond issue12 Jun 2019
Slaughter and May advised Derwent London plc (Derwent) on an issuance by Derwent’s direct wholly owned subsidiary, Derwent London Capital No. 3 (Jersey) Limited, of £175 million 1.50% convertible bonds due 2025 (the 2025 Convertible Bonds), and the concurrent repurchase of £147.7 million in aggregate principal amount of the £150 million convertible bonds due 2019 issued by Derwent’s direct wholly owned subsidiary, Derwent London Capital No. 2 (Jersey) Limited.
The 2025 Convertible Bonds were issued by Derwent London Capital No.3 (Jersey) Limited and are guaranteed by Derwent.
Financing: Matthew Tobin (partner), James Broom (associate), Mark Chiang (visiting lawyer), Melissa Maynard (associate); Tax: William Watson (partner), Charles Osborne (associate); Corporate: Nilufer von Bismarck (partner), Sarahanne Jackson (associate)
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