Motorbike Maker KTM’s Lenders Take 70% Hit in Restructuring
(Bloomberg) — Creditors of Austrian motorcycle maker KTM AG have approved a restructuring plan that will write off 70% of what they’re owed. The company now has three months to secure about €800 million ($840 million) of cash to finance the turnaround. Citigroup Inc. is leading the fundraising effort and KTM parent Pierer Mobility has…