GUS bondholders demand improved deal
The impasse that has followed bondholders' rejection of GUS's offer to repay its outstanding £350m bond at par hinges on whether the retailer has technically defaulted on the deal terms
UK retailer GUS's attempts to tender its £350 million 4.6% 2013 bond as it undergoes a de-merger of its Experian credit information division from retail unit Argos were rebuffed by bondholders last month. But with a group of hedge funds and other investors hinting they would be willing to meet the borrower, the question now is whether a resolution can be reached - and in whose favour it will be.
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