Analysts have said an internal email sent by Pete Redfern, Taylor Wimpey’s chief executive, to staff last week on the progress of its talks with banks has boosted expectations of a refinancing deal in the new year.
In an email dated 12 December, Redfern said talks with lenders over the company’s £1.9bn debt pile were “constructive and sensible” and that the risks of failure had “reduced materially” in recent weeks. He indicated that a formal refinancing deal was likely by the end of February.
One analyst said: “It doesn’t mean that Taylor Wimpey is out of the woods, but it looks like it’ll get a lifeline. Redfern must be pretty confident to have sent the email because he will look really stupid now if talks fail.”