Liberum acts as Sole Sponsor, Joint Global Coordinator and Joint Bookrunner on £105m fundraising for Ted Baker Plc

We are pleased to announce that Liberum acted as Sole Sponsor, Joint Global Coordinator, Joint Bookrunner and Joint Underwriter on a £95m Firm Placing and Placing & Open Offer, and £10m Offer for Subscription to raise £105m in aggregate for Ted Baker Plc. The significantly oversubscribed capital raising received strong demand from existing and new high-quality institutional investors.

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A total of 140m new shares were issued at 75p representing over 3x the Company’s original share capital and approximately 75% of the Company’s enlarged share capital.

The net proceeds from the capital raising and disposal of the its headquarters, the Ugly Brown Building, will be used to pay down its debt facilities, invest in upgrading the e-Commerce platform, trading and working capital, restructuring the business and other capital expenditure projects. The strengthened balance sheet will allow the Group to execute on its three building blocks: stabilising the foundations of the business, returning the Group to profitable growth, and driving operational excellence.

Liberum acted as Sole Sponsor, Joint Global Coordinator and Joint Bookrunner alongside Goldman Sachs. The Firm Placing and the Placing & Open Offer were fully underwritten by the Joint Bookrunners.

Liberum has been Corporate Broker to Ted Baker since February 2014.

Liberum Team

Investment Banking - Richard Crawley, Jamie Richards, Jonathan Wilkes-Green, Louis Davies, Miquela Bezuidenhoudt, Anthony Schia

Sales - Julian Collett, Lucy Sharma, Jamie Vickers, Oliver Baxendale, Alistair Smallwood

Board - David Parsons

Research - Wayne Brown

Legal - Rebecca Gordon, Alice Foster

CIR - Natalie Clarke

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