Towergate Finance plc said it won court approval for its plan to restructure 1 billion pounds ($1.49 billion) of debt. The restructuring will be completed by early April, the U.K. insurance broker said in a statement Friday. The company previously …
Towergate Finance plc said it has enough creditor support to restructure 1 billion pounds ($1.5 billion) of debt in U.K. courts. The plan was agreed by more than 75 percent of the insurance broker’s secured and unsecured debt holders, the …
Towergate Finance plc said it reached an agreement with creditors to restructure more than 1 billion pounds ($1.5 billion) of debt in exchange for control of the company. The deal will cut the insurance broker’s net obligations by more than …
Towergate Finance Plc’s creditors are offering to cancel 715 million pounds ($1 billion) of debt in exchange for control of Europe’s largest insurance broker. The company’s senior secured creditors also propose writing off the accrued interest, according to a statement …
Towergate Finance plc’s secured bondholders hired Moelis & Co. as advisers as they prepare for talks with the U.K. insurance broker about its $1.6 billion of debt, according to two people familiar with the mandate. Investors in the company’s 248.6 …
Towergate Finance plc’s high-yield bonds plunged to a record after Europe’s largest insurance broker said it received takeover offers. The company’s 304.6 million pounds ($475.5 million) of 10.5 percent notes fell 16 pence on the pound to 45 pence, the …
