Taylor Wimpey secure debt deal

Shares in Taylor Wimpey, the UK housebuilder, rose 18% yesterday after the group moved nearer agreeing a deal with creditors to help restructure its £1.55 billion of debt.

It is underdstood that the company have reached an agreement with a group of key euro bond holders earlier this week that should pave the way for a deal that will end lingering uncertainty over the company’s future.

The company’s creditors include a consortium of 15 banks, 27 holders of Taylor Wimpey’s private placement notes and a dozen eurobond holders.