Seat PG extends consent solicitation to senior secured
After Seat Pagine Gialle pushed back the deadline for its restructuring proposal again last week, the Italian directories company has now turned to the holders of its senior secured bonds. The issuer failed to pay a coupon on its senior secured bonds on January 31, but the company's default was triggered earlier by its failure to pay a coupon on its Lighthouse unsecured bonds in October 2011.
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