Taylor Wimpey Share Discussion Threads

[sir rational] 15/12/2010 19:56

Gcom sold too cheap?

[sequoia] 15/12/2010 19:45

Trading update on the 18th Jan, for those that don`t check the blue streamer above?
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[sir rational] 15/12/2010 19:24

Cheap as chips, that's why.

NAV 60p

[sequoia] 15/12/2010 19:12

So Blackrock have increased their holding above 11%.
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[jibba_jabba] 15/12/2010 18:15

Quadruple Witching this friday...

[jibba_jabba] 15/12/2010 17:59

The gap is still calling.. should be done and dusted soon, just in time for the new year predictions and i expect TW to be well in there.. kiss good bye to the twentys for ever.. followed by the thirtys..

Could be completely wrong, but thats my view.. will buy the dips on the sb, if it goes lower than the gap, then i will revert to real ones, remember it will have to close the day below the gap to fill it...

[wig123] 15/12/2010 15:26

15/12 15:26 - Taylor Wimpey PLC Completion of refinancing
TIDMTW.

RNS Number : 9731X

Taylor Wimpey PLC

15 December 2010

15 December 2010

Taylor Wimpey plc

Completion of refinancing

Taylor Wimpey is pleased to announce that it has completed the refinancing of its existing debt facilities, ahead of the timetable indicated in our IMS dated 16 November 2010. The Company has repaid and cancelled its existing credit facilities and redeemed its outstanding Private Placement Notes and Eurobonds, all of which were due to mature in July 2012.

Pete Redfern, Group Chief Executive, commented:

"We are very pleased to have completed this refinancing well ahead of schedule. This new, simplified debt structure provides the Company with an extended maturity profile, achieved on normal commercial terms. We now have greater operational flexibility and an enhanced ability to deliver our strategic priorities including further margin improvement."

Simplified debt structure with extended maturity profile

The new facilities provide the Company with a simplified GBP1.3 billion debt structure and an extended maturity profile, as summarised below:

-- GBP950 million revolving credit facility with an interest rate of LIBOR plus a margin varying between 225 and 375 basis points according to the Company's gearing level. GBP350 million of this facility matures in July 2012, with the remaining GBP600 million maturing in November 2014

-- GBP100 million term facility with an interest rate of LIBOR plus a margin of 450 to 500 basis points maturing in June 2015

-- GBP250 million Senior Notes with a coupon of 10.375% maturing in December 2015

Better blended interest rate

The new facilities will result in a blended interest rate of around 8% based on expected gearing and LIBOR levels. This is a significant improvement on the blended rate of the previous facilities, which stood at approximately 11% for the first half of this year.

Greater operational flexibility

The covenants associated with the new facilities are in line with normal commercial terms and remove a number of the operational restrictions of the previous facilities. This significantly increases our flexibility with regard to future operational decisions and, in particular, there is no longer a specific restriction on new land acquisitions.

Accounting treatment

The refinancing costs of circa GBP115 million, including the break costs for the existing debt facilities of GBP84 million, will be recorded in the income statement and cash flow statement for the Company's 2010 financial year. The previously announced one-off pension deficit reduction payment of GBP75 million will also be recorded in the cash flow statement for this period.

Next market update

Taylor Wimpey will issue its year-end trading update on 18 January 2011.

-ends-

For further information please contact:

Taylor Wimpey plc Tel: [phone]

Pete Redfern, Group Chief Executive

Ryan Mangold, Group Finance Director

Jonathan Drake, Investor Relations

[jibba_jabba] 15/12/2010 15:18

Keeping it open for now, just opened another long..

[sir rational] 15/12/2010 14:21

Jibba I'd be thinking of taking profits on that short

[sir rational] 14/12/2010 23:09

inflation, as measured by the Retail Prices Index jumped from 4.5 per cent in March to 4.7 per cent in November. The RPI is widely accepted as the truest measure of the cost of living because it includes housing costs.

[jibba_jabba] 14/12/2010 21:22

Added 30000 yesterday, had a couple of good swing trades last week with it, but got caught out yesterday..

Also opened sb long yesterday and a short one today.. both still running.

Still mindful of the gap..



What i am looking at, worst case..

[camelot5] 14/12/2010 20:44

8.1M trade showing from 09.45!!!

[shaws37] 14/12/2010 20:13

If sooner, all the better :-))

[sequoia] 14/12/2010 20:09

If the share is volatile may come sooner?
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[shaws37] 14/12/2010 19:50

Late Jan to mid Feb is when i think we may see the GC.

[spennysimmo] 14/12/2010 19:23

Like I said, not even close, but it will come.

[shaws37] 14/12/2010 18:25

Golden Cross - pigs will fly. An im a bull in this. lol

[jibba_jabba] 14/12/2010 16:58

Main thing is it closed above yesterday's close, so not bearish yet..

[smurfy2001] 14/12/2010 16:58

Wimpey move made us a happy family

December 14, 2010

A couple's headache of living abroad while trying to buy a house in Bracknell and selling a house at the other end of the country was made easier by a new scheme from Taylor Wimpey.

[sir rational] 14/12/2010 14:20

Looking good for the Santa rally