The £925 million refinancing plan, compiled by Morgan Stanley and Moelis, comprises a £325 million equity capital raise and £600 million in debt financing. It also raises the stake of the bank’s largest shareholder, Colombian billionaire Jaime Gilinski Bacal’s Spaldy Investments, from 9% to 52.88% in exchange for its leading $126 million investment.
The bank’s existing shareholders came together on 27 November to vote on the deal. According to a filing with the London Stock Exchange, where the bank is listed, the refinancing deal was “duly passed with very strong support with over 90% of shareholders voting in support of all resolutions”.
