Towergate smooths IPO path with debt restructure
Towergate has enlisted investment bank JP Morgan to advise it on a debt restructure that will extend the length of time it has to repay monies owed by swapping bank debt and preferred shares for a stake in a new subsidiary.
It follows the consolidator's move to form two public limited company operations under counsel from international law firm Shearman & Sterling, as revealed by Post.
One of its new subsidiaries
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