Lebara creditors threaten debt-for-equity swap after late interest payment

Wednesday 12 June 2019 | 12:04 CET | News
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Debt holders in MVNO Lebara have asked the company to meet interest payments, in a move that could wrest control of the company from investment company Palmarium, the Financial Times reported. Palmarium bought Lebara in September 2017 for EUR 420 million, funding the acquisition through a EUR 350 million bond sale. The owners of this debt said they will swap their holdings into equity if Palmarium does not pay interest within three days, according to a statement on the Oslo stock exchange. The bond transaction will be submitted to a Dutch court, since one of the parents of Lebara, Vieo, is

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Categories: Mobile & Wireless
Companies: Lebara
Countries: Europe
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