Wragge & Co advise AIM-listed Conygar on securing £20 million lending facility
Wragge & Co has advised long-standing client and AIM-quoted property investment and development business Conygar Investment Company PLC on securing a £20 million lending facility from Barclays Real Estate.
The funding package, secured against its existing Edinmore portfolio, enables Conygar to pursue further investment and development opportunities.
Partner Kirsty Barnes led a team of banking and finance and real estate specialists on the transaction. Solicitor Harry Bengough and trainee Laura Finch supported Kirsty on the finance aspects of the deal while real estate partner Huw Roberts and associate Sarah Galvin advised on property issues. The Wragge & Co team worked closely with Conygar finance director Peter Batchelor.
Kirsty Barnes said: "This is an important deal for the client as they look towards future investment and development opportunities. Our cross-firm team of experts quickly grasped the client's commercial objectives and delivered consistently high-quality advice at every stage of the deal."
Peter Batchelor added: "Wragge & Co understands our business drivers and requirements and so act as an extension of our team. Highly professional, they are committed to achieving the best possible result for us and we value their pragmatic approach. Their ability to provide a seamless service across property and finance was instrumental in successfully reaching agreement with Barclays."
Conygar is an AIM-quoted property investment and development group which deals primarily in UK property. A Wragge & Co client since 2004, the firm has previously worked with Conygar on corporate, acquisition and real estate matters.
Wragge & Co's Banking and Finance team advises on a wide range of UK and cross-border mid-market acquisition, debt and leveraged finance deals for lenders and borrowers, as well as insolvency and corporate restructuring. Its lawyers operate as one team from offices in Birmingham and London and are "well placed to handle some of the more complex and sophisticated instructions in the market" (Chambers 2012). The team provides what one client describes as "magic circle quality but with a refreshing personal touch".
Highlights from the past 12 months include advising: SLR Management on group refinancing to provide £15 million of new acquisition facilities; Sanctuary Housing Association on its £300 million bonds issue; and HSBC Bank plc and Regency Assets Limited on its £300 million securitisation programme.
For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785, Rebecca Davies on +44 (0)121 685 3819, Gayle Biddle on +44 (0)121 685 2708 or Amy Richards on +44 (0)121 260 9973
This press release may contain information of general interest about current legal issues, but does not give legal advice.