Eurotunnel's bank debt sunk after the company's shareholder meeting last week where a new board of directors was chosen and the incumbent chairman and ceo were replaced. Across the board, the loan paper slipped several points with the Tier 1 quoted in the 86-88 range, the Tier 2 in the low 70s and the Tier 3 in the 48-52 range. There were said to be trades in those contexts, but specific trades could not be confirmed. Eurotunnel had already been pursuing a restructuring that would have included a reduction to debt and interest payments. The company was also looking to extend its maturities in an effort to stabilize its financial structure. It is unclear how the restructuring would be affected by the recent turn of events. Creditors were still trying to gauge what will happen next. Eurotunnel officials could not be reached by press time.