Interserve Share News (IRV)

Interserve Information

There is currently no data for IRV

REMOVE ADS

PRESS: Interserve To Swap GBP300 Million Of Debt For New Shares - Sky (ALLISS)

Mon, 04th Feb 2019 06:55

LONDON (Alliance News) - Interserve PLC is closing in on a rescue deal to swap almost a half of its debt for shares in the company, Sky News reported late Sunday.

The news website said the outsourcing firm could announce as soon as this week that it has reached an in-principle agreement with lenders about the restructuring.

The debt-for-equity swap, which has been under discussion for several months, is likely to involve swapping around GBP300 million of its borrowings for new shares, according to Sky.

https://news.sky.com/story/outsourcer-interserve-closes-in-on-debt-for-equity-rescue-deal-11627404

At the end of December, Interserve confirmed talks to swap debt for equity and said it expected to end 2018 with between GBP625 million and GBP650 million in net debt. At the time, the company said it would publish the final form of the plan in early 2019.