Thomas Cook banks grant 2015 maturity extension

Lenders to Thomas Cook have agreed to extend the maturities and relax financial covenants on the company’s £1.4bn of loans to give the UK travel agency more flexibility to resurrect its business.

  • 11 May 2012

There are no fixed repayments on the loans, but Thomas Cook plans to deleverage through disposals and excess cash flow sweeps in March 2013 and 2014.

"We are delighted to have agreed this refinancing which we believe will stabilise our capital structure, providing committed capital for the next three ...

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2 Rabobank 35.35
3 Morgan Stanley 11.45
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1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
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