Seat PG’s last offer to SSBs: no coupon, but you can vote
Italian directories company Seat Pagine Gialle released its final proposal for restructuring on Tuesday evening. Senior secured bondholders are now formally included in the negotiations, but the risk to them has deepened: Seat failed to pay their coupon on January 31.
The company said this would be its last proposal and that, should it not obtain the necessary consent threshold by the new deadline of February 28, it was planning to file under the Legge Marzano, Italys equivalent of a US Chapter 11 bankruptcy.
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