Slaughter and May advised Derwent London plc - note purchase agreement for the issue and purchase of £250 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 £250 million private placement notes.

The notes are to be issued in January 2019 and will consist of £55 million Series C Notes due 2026 with a coupon of 2.68%, £93 million Series D Notes due 2029 with a coupon of 2.87%, £50 million Series E Notes due 2031 with a coupon of 2.97% and £52 million Series F Notes due 2034 with a coupon of 3.09%. The notes were placed with eight institutional investors. The proceeds will be used to refinance existing financial indebtedness and for general corporate purposes.

Matthew Tobin Partner
William Watson Partner
Charles Osborne Associate