Eurotunnel launched a discounted rights issue totalling €915 million that Eurotunnel has described as the final piece in restructuring package that has seen it eliminate to date more than £5bn in debt from its balance sheet.
The shares, discounted by 28%, will be underwritten by a consortium of banks including ABN Amro, Lazard, HSBC, Lehman Brothers and UBS.
The deal will allow the Channel Tunnel operator to have “more room to manoeuvre” said Jacques Gounon, the chief executive.
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