Taylor Wimpey Share Discussion Threads

[hiq] 30/11/2010 09:10

The bonds got away quite nicely albeit with a high coupon - but yes - the banks are semi-insisting on TM getting sold sooner rather than later.

[barf2] 30/11/2010 07:57

I think the company have handled all of this quite badly.When rumours first circulated of them selling TM they avoided addressing them.

Then they said they weren't selling [but might!] and now we get told they are trying to sell.Funds etc will have known that for a while which is why I think the share price has been battered more than the general sector.

They didn't grasp the nettle at the outset or when they could have secured a better price during mid/late 2010 when things were looking better.They now find themselves having to tout it around to try and squeeze a sale out somewhere.

Have they been told by the refinancing banks to get it sold or has the bond sale not been received as well as hoped?

Not good management at all.

[smurfy2001] 29/11/2010 19:19

Too early too sell IMHO but coincides nicely with the large director share buy.

[hiq] 29/11/2010 18:26

Nellie your link has missed out more Dir buys than that, see the RNSs above

[nellie1973] 29/11/2010 17:31

Thats a big chunk of shares bought today. I'm sure there is a reason behind this.

[hiq] 29/11/2010 16:24

More director buying

[hiq] 29/11/2010 13:27

Still, better than not buying some...

[imastu pidgitaswell] 29/11/2010 13:24

The new FD bought all of 12,000 shares at 25p.

Bless 'im, he probably hasn't got any money to buy more, as he's not been on the gravy train of being a plc director until the week before last.

Still, every little helps. Ooops, wrong plc...

[smurfy2001] 29/11/2010 11:58

EdmondJ, link please.

[hiq] 29/11/2010 10:38

None of the usual farty options stuff - this was real money

[hiq] 29/11/2010 10:30

Nice vote of confidence

[hiq] 29/11/2010 10:29

Anthony Reading, Director, acquires further shares

In accordance with the requirements of D.T.R. 3.1.2 Taylor Wimpey plc (the "Company") was notified on 29 November 2010 that Anthony Reading, Director, acquired 260,000 Ordinary Shares (0.008% of the Company's issued share capital), at a price of 25.27 pence per share in London, on 29 November 2010.

Following the above purchase, the total number of Ordinary Shares of 1 pence each of the Company held by Anthony Reading is as follows:


Number of Shares
Held (percentage
of Issued Share
Director/PDMR Position Capital)
Anthony Reading Director 300,000 (0.009%)

[edmondj] 29/11/2010 10:24

A fine depiction indeed; of people generally losing money!

Director buying though, see RNS.

21p NAV cited by some broker?

[smurfy2001] 27/11/2010 22:37

Great chart, thanks

[smurfy2001] 27/11/2010 00:39

Message to Taylor Wimpey Staff a yesterday

Dear all,

I promised you earlier in the week that I would update you on the progress of our bond issue to raise £250m of debt funding from investors. I’m very pleased to report that, after a large number of investor meetings over the last three days, we have already received good support and have agreed the bond this evening.

Although there are still a number of legal procedures to go through, this effectively means that the bond issue has been successful, triggering the new bank deal and we expect to complete the switch across to our new financing arrangements at some point next month.

This will means that the existing Override Agreement will fall away and we will be able to focus on running the business. It also means that we have secured financing until late 2014 - a very strong position.

In the short term, we will need to stick to the existing Override rules, but we will be reviewing this very quickly.

The last few days have been pretty tough but has also been very successful, thanks to a great team effort. I'd particularly like to thank Ryan, who only a week into the job went into this process in a 'baptism of fire' and performed outstandingly.


Best regards.




Pete

--------------------------------------------------------------------------------

[edmondj] 26/11/2010 18:37

Light Friday night reading:

[imastu pidgitaswell] 26/11/2010 13:22

I'm wondering if there are some misunderstandings in that long comment in italics (post 5392).

Talking of £350m of the bank debt that is being lost (having to be repaid) in 2012 is not correct, it's the facility that is maturing then. If they need to add another facility on top of the remaining £350m bonds and £600m B facility at that point, then that's an issue - which may or may not arise.

As they go on to say themselves, borrowing capacity reduces to £950m in 2012 - they can't have it both ways, whingeing about having to refinance the debt and also the lack of headroom from 2012. One of those points may be an issue - not both.

Then they go an about the quantum of the debt - I suspect they're mixing net debt (£633m at the half year) and gross debt (which they project to be £885m at the year end). A bit odd.

Who wrote it?