Channel tunnel operator's bond holders close to accepting debt rescue package
Accountancy Age, 26 Jul 2006
Eurotunnel was on the brink of winning the support of its bondholders for a debt rescue deal last night, after weeks of protest from the group.
Creaking under debt and suspended from the trading on the London Stock Exchange, Eurotunnel has faced intense opposition to its debt restructuring proposals from the bondholders.
A French court delayed its decision on whether to place the channel tunnel operator into bankruptcy, which provided Eurotunnel to continue negotiating with its bondholders Arco, who own a third of Eurotunnel's £6.2bn debt.
Comments
Have your say on this article