BLP demonstrates strength of Corporate Finance practice with two high-profile deals
International law firm Berwin Leighton Paisner (BLP) has advised clients Secure Income REIT plc (SIR), and Numis Securities and Peel Hunt on two separate fundraisings.
BLP advised SIR on a secondary placing of 110,735,013 ordinary shares at 255 pence per share. The placing was oversubscribed and represented 61.4% of the issued share capital of the Company.
The team is also advising Numis Securities as sponsor, joint broker and bookrunner and Peel Hunt as joint broker and bookrunner, in relation to the proposed £120 million fundraising by Primary Health Properties plc (PHP). The fundraising is conditional on shareholder approval at a general meeting, and admission and dealings in the new shares are expected to commence on 14th April 2016.
Both deals were led by the Firm’s London Corporate Finance team and included additional support from BLP’s US Securities and Corporate Real Estate groups.
Corporate Finance Partner Richard Werner led the team that advised SIR on the secondary placing. Julian Stanier, also a Partner in the Corporate Finance team, led on the PHP deal for Numis Securities and Peel Hunt.
Richard Werner commented: ”Both of these deals demonstrate just how strong our cross-practice capability is at BLP. The depth and strength of our Equity Capital Markets team is evident in these deals, which also involved our US Securities specialists and our market-leading Real Estate team. The teams can be very proud of their work on them.
“Our work on the Secure Income REIT transaction has allowed the client to move on from its IPO as a REIT in 2014 and commence the growth stage of its strategy.”