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Hogan Lovells Advises on Mothercare Rights Issue

23 September 2014

23 September 2014 - Hogan Lovells has advised HSBC, J.P. Morgan Cazenove and Numis Securities as joint bookrunners and J.P. Morgan Cazenove and Numis Securities as joint sponsors on the £100 million rights issue of Mothercare, announced today, 23 September.

Mothercare sells its products in almost 1,500 Mothercare and Early Learning Centre stores in approximately 60 countries in Europe, Middle East and Africa, Asia and Latin America and it intends to use the net proceeds of the rights issue to implement its new strategic plan, which is focused on reshaping the UK store footprint and investing in IT and infrastructure to support both the UK and the International business. 

The Hogan Lovells team advising the bookrunners was led by London UK capital markets partner Maegen Morrison and London U.S. capital markets partner Peter Kohl with associates Andin Fonyonga, Joe Tompkins and Ben Coleman advising on UK law; and associate Jaime Huertas providing U.S. law advice.

Commenting on the transaction, Maegen said:
"Mothercare has been a fixture in the UK since the 1960s and is among the most successful British retail exports in its sector.  We are pleased to have assisted on this transaction which is intended to enable Mothercare to implement its new strategic plan."

Mothercare were advised by Slaughter and May and Paul, Weiss, Rifkind, Wharton & Garrison LLP.

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