PARIS–(BUSINESS WIRE)–Regulatory News:
Europcar Mobility Group (Paris:EUCAR):
The Agreement in Principle has been entered into by the Company with a group of significant cross-holders2 in the 2024 Senior Notes, 2026 Senior Notes, EC Finance plcs Senior Secured Notes and holding interests in the RCF and the Credit Suisse Facility and has been approved at the unanimity of the voting members3 of the Companys supervisory board4. It contemplates mainly:
(i) A massive corporate deleveraging, with the reduction of the Groups corporate indebtedness by 1,100m through the equitization in full of its 2024 Senior Notes, 2026 Senior Notes and Credit Suisse Facility;
(ii) A significant new money injection, with the contribution in equity in an amou…
Read the full article at: https://www.businesswire.com/news/home/20201125005967/en/Europcar-Mobility-Group-Reaches-a-Major-Step-With-an-Agreement-in-Principle-on-Financial-Restructuring-With-Main-Creditors-Supporting-Its-“Connectâ€-Transformation-Program