The group of investors holding subordinated debt in Eurotunnel voted on December 14 to support the beleaguered Channel Tunnel operator's latest debt restructuring plan. The proposal to cut the company's £6.2 billion of debt to £2.9 billion was the company's last chance to avoid insolvency, and depended on the bondholders, who hold £1.9 billion of the debt. The plan includes the issuance of £1.28 billion in convertible bonds.
Bondholders had rejected earlier proposals on the grounds that they
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