Macfarlanes advises J D Wetherspoon plc on £141m equity raise

06 May 2020

Macfarlanes has advised FTSE 250 pub owner and operator J D Wetherspoon plc on a successful £141m equity raise

J D Wetherspoon is a long-standing client of the firm, having previously advised on a number of credit facilities and financings.

The equity raise was implemented as an accelerated book build of approximately 15% of J D Wetherspoon’s existing equity to institutional investors and directors. Investec Bank PLC acted as sole book runner.  

The Macfarlanes team for this matter was led by corporate and M&A partner Richard Burrows with assistance from solicitor Timothy Wickenden and trainee solicitor Helen Connolly. Tax expertise was provided by tax and reward partner Jeremy Moncrieff with solicitor Christopher Orford providing advice on financing aspects.

Richard Burrows comments: “We are pleased to have been able to continue our relationship with J D Wetherspoon on this equity raise. It is a testament to the strengths of the company that they were able to successfully implement the transaction despite the challenging circumstances.”