Yell maps out £3.8bn restructuring

23 Sep 2009

Yell, the UK directories group, today proposed raising at least £500m of equity to persuade bank lenders to agree to a restructuring of its £3.8bn of loans.

“The process still has some way to go but we believe the proposals developed with our lenders will support our group through the difficult economic times,” said Yell chief executive John Condron.

Under Yell’s refinancing plans — which require support of 95% of lenders — it will extend debt ...

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