Getlink offers green bond refi after waiving term loan covenants

eurotunnel getlink 575 375 from company
By Owen Sanderson
20 Oct 2020

Getlink, the company that operates the Channel Tunnel, is preparing a €700m high yield green bond to refinance its 2023 bonds and raise cash for capex, including finishing off a landmark electricity connection between the UK and France. The refi comes after it negotiated waivers on the covenants in its term loan to deal with the impact of the pandemic.

Getlink is the group which owns Eurotunnel, as well as a French rail freight group and Eleclink, the electrical link under the channel which is under construction, and will improve connections between UK and continental electricity markets.

Eurotunnel itself is the main financing entity for the group, with ...

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