Wolseley, the UK building supplies group, was scrambling Thursday night to convince investors and banks to back a £1bn cash call to ease its £3bn debt burden amid signs of investor fatigue at giving troubled companies fresh capital. Wolseley was expected to announce the deal by Friday, but banks working on the planned equity issue have struggled to find banks and investors to guarantee the deal if shareholders shun the offering.

This entry was posted by Gwen Robinson on Friday, March 6th, 2009 at 4:52 and is filed under Capital markets. Tagged with wolseley. Edit this entry.