Eurotunnel restructuring gets shareholder nod
Shareholders in Eurotunnel have voted in favour of the restructuring plan approved by bondholders last December. According to Autorite des marches financiers (AMF), the French securities regulator, 87% of equity investors backed the proposal to reduce the company's £6.2 billion of debt to £2.84 billion. The plan includes the issuance of £1.28 billion of convertible bonds, underwritten by Citigroup, Deutsche Bank and Goldman Sachs, who are also to provide a £2.84 billion loan.
The shareholders
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