Latham Advises on £141 Million Placing by J D Wetherspoon

Latham & Watkins advised Investec Bank plc (Investec) as the sole bookrunner on a £141 million cash box placing by J D Wetherspoon plc, one of the UK’s largest pub & hotel chains. 

The placing represented approximately 15% of the company’s existing issued share capital and was conducted through an accelerated bookbuilding process. The capital raised will be used to help J D Wetherspoon strengthen its balance sheet, working capital and liquidity position during the period of disruption caused by COVID-19.

This cash box placing follows Latham’s work on recent placings by Hays and Assura. 

The team was led by London corporate partner Chris Horton, with assistance from associates Sean Meehan and Fred Gardner. London partner Ryan Benedict and associate Sarah Youssefi advised on US securities law matters.