Alliance Boots completes restructuring
Alliance Boots has completed a restructuring of more than £5bn of its debt, which will allow the company to delay maturities until after 45%-owner Walgreens has had the opportunity to complete its acquisition of the company.
The extensions put Boots’ next loan maturity in 2016, with staggered maturities after that. The £5bn senior syndicated loan facilities represent around 80% of such debt held by Boots.
Without the restructuring, the first maturity would have been in 2014. That would have been before Walgreens — which bought
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