Freshfields and A&O lead on Lloyds and Gladedale Homes debt-for-equity swap
Freshfields Bruckhaus Deringer and Allen & Overy (A&O) have taken lead roles on a debt-for-equity swap between house builder Gladedale Homes and Lloyds Banking Group. The deal will see Lloyds take priority shares in Gladedale in return for writing off roughly £500m of debt. The debt came on to Lloyds' books through its acquisition of HBOS last year.
Freshfields Bruckhaus Deringer and Allen & Overy (A&O) have taken lead roles on a debt-for-equity swap between house builder Gladedale Homes and Lloyds Banking Group.
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