Samsonite and RBS in debt-for-equity swap

Samsonite, the luggage company, has become the latest leveraged loan borrower to agree to a debt-for-equity swap with one of its lenders. CVC Capital Partners, Samsonite’s sponsor, is understood to have reduced its stake in the group to 60%, with Royal Bank of Scotland taking a 40% minority holding.

  • 01 Jun 2009
The move will see CVC injecting cash into Samsonite, according to reports in the UK press, confirmed by the company today. Reports suggested it would inject $175m into the company. Samsonite had been close to breaching its covenants in the wake of a fall in air travel over ...

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