I creditors have said yes to Seat Pagine Gialle's financial restructuring proposal. The company, swamped by debts for 2,7 billion euros, communicated in a note that the adhesions of the holders of the senior secured bonds clearly exceeded the 75% threshold, even reaching over 75%. A green light that adds to that already received from banks, Lighthouse bondholders and reference shareholders (CVC, Permira, Alfieri Investitori Associati).
“For the formal completion of the consent – reads a note from the company – it will be necessary to wait the bondholders' meetings convened for 29 and 30 March“. At that point the restructuring and saving of Seat can really begin.
Only this morning, Seat had received the refusal of Barclays Bank, which helped to drag the company's shares into deep red, now in clear recovery after the news of the agreement.
