Light appears at end of Eurotunnel's debt nightmare
Channel tunnel operator's bond holders close to accepting debt rescue package
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.