Taylor Wimpey - with a revised financing package in place how can you go wrong with this one?!
Taylor Wimpey’s debt refinancing has come at a huge additional cost (c£60m) with loads of incentives to seek further equity to pay down debt sooner rather than later – I assume there are some equity holders out there that consider house building, at least in the form of Taylor Wimpey, has a future! Hopefully the latest round of exceptional write offs will have covered things and we are left with a more realistic picture of the current state of the business.
The shares have staged a decent recovery over the past few months rising off lows of 4.4p at the end of November to the current heady level of 43.50p facilitating the possibility of an attractively discounted Rights Issue. One thing is for sure, with these punitive finance costs they won’t be able to stomach that debt package for too long!
Yesterday’s announcement stated the group recorded an unaudited loss from continuing operations before tax and…
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