IFLR1000

Interserve restructuring

15/3/2019
Restructuring
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Announced

15/3/2019

Overview:

  • Interserve has restructured via a deleveraging plan agreed with the group’s lenders, bonding providers and Pension Trustee.
  • The plan included a placing and open offer of new shares, a reduction of the group’s existing debt by approximately £485 million through the proceeds of the open offer being applied in prepayment and the conversion of debt into new shares and a new £110 million loan facility.

Jurisdiction:

United Kingdom

Deal type:

Restructuring

Practice area:

Restructuring and insolvency

Governing law:

England and Wales

Firm:
Slaughter and May

Party: Interserve (Issuer)

Lawyers: Azadeh Nassiri, Ian Johnson, Susan Hughes

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