Friday, July 4, 2008

Texas Pacific Group leaves B+B at the altar

B&B Enlarges Rights Offer as TPG Exits Investment

Last month private equity firm TPG pledged to invest £179 into ailing lender Bradford & Bingley. But after hearing that Moody's had downgraded B+B's credit rating, TPG has done a last minute runner. Now the bank has had to go back to the drawing board, with an enlarged rights issue, in a desperate attempt to scrape up some cash. Oops!

Posted by little professor @ 03:56 AM (589 views)
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2 thoughts on “Texas Pacific Group leaves B+B at the altar

  • little professor says:

    Sorry, didn’t notice Paul’s post.

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  • mark wadsworth says:

    If I were Taylor Wiimpey, all of a sudden I wouldn’t feel so cheerful.

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