Clifford Chance

Clifford Chance advises Findel Plc on its underwritten equity fundraising and debt restructuring

Leading international law firm Clifford Chance announces it is advising Findel Plc, London-listed education and healthcare supplier and multi-channel home shopping retailer on its balance sheet restructuring and related £80.5 million equity fundraising; overall, the transaction will reduce net debt by approximately £110.5 million.

The multi-disciplinary Clifford Chance team was led by Corporate partner Tim Lewis and Banking and Finance partner Karen Hodson.

Tim Lewis commented, "Clifford Chance is delighted to be advising Findel Plc on its restructuring. This important milestone will strengthen the group's financial position and provide funding for implementation of management's Full Potential Review."