Restructuring comes to IG as TomTom gets new terms
TomTom, the Dutch SatNav maker, has renegotiated the terms on its Eu1.785bn loan, signed in January for the takeover of Tele Atlas, showing that restructuring is no longer confined to the leveraged market. TomTom, which has not breached covenants, wanted “additional headroom in the current macro environment”.
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