UK retailer Debenhams is on Thursday expected to announce plans to raise up to £400m through a placing and open offer of shares in a bid to cut its debt burden of almost £1bn. The company aims to raise £300m to £400m, with the shares expected to be priced at 75p to 80p. TPG and CVC Capital Partners, its two private equity backers, are not expected to take up new shares but neither will they seek to offload their stakes, which are worth £104.4m and £73.4m at current market value.

This entry was posted by Gwen Robinson on Thursday, June 4th, 2009 at 5:07 and is filed under Capital markets, Private equity. Tagged with debenhams. Edit this entry.