Seat PG wins restructuring consent on deadline day
Seat Pagine Gialle has won consent from its creditors to restructure its debt, as the deadline approaches at 5pm London time today when the restructuring offer runs out. The deal averts what would probably have been a bankruptcy filing.
More than four months after it missed a coupon on its Lighthouse unsecured bond on October 31, and after numerous deadline extensions and revised proposals, Seat PG has finally won over enough of its creditors.
The required level of at least 75% of each of its bank lenders, senior
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