Slaughter and May advised Derwent London plc - note purchase agreement for the issue and purchase of £105 million private placement notes

Slaughter and May advised Derwent London plc (Derwent), a leading London property developer and investor, in relation to a note purchase agreement for the issue and purchase of £105 million private placement notes.

The notes are to be issued in May 2016 and will consist of £30 million Series A Notes, with a maturity of 12 years and a coupon of 3.46%, and £75 million Series B Notes, with a maturity of 15 years and a coupon of 3.57%. The notes were placed with three institutional investors all of whom are new lending relationships for Derwent. The proceeds will be used to refinance existing financial indebtedness and for general corporate purposes.

Matthew Tobin Partner
William Watson Partner
Charles Osborne Associate