Fight ahead for Eurotunnel bondholders

A number of Eurotunnel’s creditor banks have formed an ad hoc group called Arco to fight their corner ahead of the firm’s May 15 announcement of its restructuring plans.

According to Jean-Pierre Mattei, chairman of Arco, the association represents 60% of bondholders, who hold a third of Eurotunnel’s debt. He says that Eurotunnel has not communicated with the group, which is asking for “equal and transparent” negotiations.

The group fears that bondholders are likely to lose out in Eurotunnel’

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