Virgin Australia Holdings Ltd bondholders plan to propose to creditors a debt-to-equity swap as an alternative deal to the purchase by Bain Capital agreed by the company's administrator, a lawyer for the bondholders said on Friday.
) bondholders plan to propose to creditors a debt-to-equity swap as an alternative deal to the purchase by Bain Capital agreed by the company’s administrator, a lawyer for the bondholders said on Friday.
Singapore’s Broad Peak Investment Advisers and Hong Kong’s Tor Investment Management plan to put forward an alternative deed of company arrangement to a vote at a creditor’s meeting next month, the lawyer Ian Jackman said. “We for our part will have an alternative DOCA ... with a view to improving the return of creditors as well as ensuring the future viability of the company.”
Their proposal involves interim funding to allow Virgin to continue operating, the conversion of noteholders and certain other unsecured creditors’ debts into equity worth around 69 cents on the dollar with an option for creditors to sell their shares for cash, the submission said.The terms of Bain’s deal agreed with the administrator Deloitte have not been disclosed publicly.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Stocks making the biggest moves after hours: Virgin Galactic, Redfin, Carnival and moreSee which stocks are posting big moves after the bell.
Lire la suite »
'Roll of the dice': Argentina creditors reject debt offer to set up heated finaleArgentina's $65 billion debt restructuring talks teetered on the edge on Wednesday after two key creditor groups knocked back the country's latest 'final' offer, while the government signaled that there was no room left to improve the terms.
Lire la suite »
GOP election lawyer explains how Trump’s war on mail-in voting could backfireFmr. campaign lawyer for John McCain: “The right message is that every American ought to have a chance to vote safely … What they’re hearing out of the White House is, ‘It’s fraudulent, it’s dangerous, don’t do it.’ I think it is entirely possible that means it boomerangs on the Republican party.”
Lire la suite »
Stocks making the biggest moves after hours: Virgin Galactic, Redfin, Carnival and moreSee which stocks are posting big moves after the bell.
Lire la suite »
Australia ends Hong Kong extradition treaty, extends visasAustralia’s prime minister says his country has suspended its extradition treaty with Hong Kong and extended visas for Hong Kong residents in response to China’s imposition of a tough national security law on the semi-autonomous territory.
Lire la suite »