Bradford & Bingley Fees Could Be 55 Million Pounds, Times Says

By Kari Lundgren

July 8 (Bloomberg) -- Bradford & Bingley Plc may have to pay as much as 55 million pounds ($108.7 million) in fees to complete a 400 million-pound rights offer, the London-based Times said.

The cost of legal and other advice is increasing as raising capital for the lender becomes more complex, the newspaper said, citing unidentified sources close to the agreement. Bradford & Bingley will face costs of about 13 percent of the total amount it hopes to raise, the Times said, citing a circular sent to shareholders Monday.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net