Entries tagged "Taylor Wimpey"
The plight of builders in the slowing U.K. economy took center stage in Europe Wednesday as the market leader, Taylor Wimpey plc, warned it may breach agreements with its banks. The company failed to attract investors to an emergency £500 million ($997 million) share sale, which its banks had made a condition of easing existing loan terms. The group's market value is now less than a fifth of its £1.7 billion debt, and the announcement raised the prospect the group -- and potentially peers -- would collapse. On Wednesday, Taylor Wimpey's share price plunged by more than half, and...
The U.K.'s largest homebuilder, Taylor Wimpey plc, on Wednesday warned it was in danger of breaching banking covenants next year after investors shunned an emergency share placing. ...
