Elior decides against amend and extend

French food services company Elior has withdrawn its request to amend terms on its debt and extend the tenor of its loans by two years, after it did not receive the required two thirds majority from lenders.

  • 12 May 2011

A minority of lenders were seeking a margin that the company could not justify.

Crédit Agricole had been appointed joint co-ordinator with Morgan Stanley of Elior’s amend and extend. Had lenders approved the move, the Eu220m revolver would have matured in 2015, the Eu340m term loan ‘B’ in 2016, ...

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