Taylor Wimpey Debt Pact May Free North American Assets for Sale

Taylor Wimpey, parent company of Taylor Morrison in the United States, has struck an agreement to refinance its debts, clearing the way for a possible sale of its North American assets, including those in the United States. During a conference call with analysts Tuesday, Taylor Wimpey CEO Peter Redfern acknowledged that its new financing agreement wouldn't require approval before an asset sale, "clearing out the way" for a potential sale. "We haven't changed our view on timing, but it is still a bit early to give you anything specific," said Redfern in a call with analysts. Rumors that Taylor Wimpey plans to sell its North American operations, including its Monarch brand in Canada as well as its Taylor Morrison brand, have been rampant for a year. And management has not discounted them.

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