Parmalat to swap debt for equity


Bankrupt Italian dairy group Parmalat is waiting to see if institutional investors will meet its proposals for a debt-for-equity swap. Enrico Bondi, the government-appointed administrator submitted his plan to the government at the end of last month.

Close Brothers is overseeing the bondholder committee and will make a decision whether to agree to the plan once the merchant banking group has gone through the proposals.

“The issue for the bondholders is how much equity they will be allocated and

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