Bondholders agree last ditch Eurotunnel refinancing 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.

“I can now say that Eurotunnel is virtually saved,” said Eurotunnel chief executive officer Jacques Gounon.

A majority of the company’s bank debt creditors, holders of its senior and junior debt, which is 70% of the total amount, voted in fa

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: