The owner of beleaguered motorway service operator Welcome Break has made a surprisingly generous refinancing proposal to its bondholders. Investcorp has offered to purchase the full £309 million balance of Welcome Break’s class A notes at 97% of par, and the full £67 million balance of its class B notes at 45% of par. The proposal is made possible by RBS’s offer to extend an additional £102.5 million of loan funding to Welcome Break.
At this stage, both classes of noteholders need to approv
The week on Risk.net, July 7-13, 2018Receive this by email