Towergate approves creditor takeover
Towergate has formally agreed a deal with its bondholders that will see the company taken over by its unsecured creditors, according to a Reuters report.
Under the terms of the deal the unsecured bondholders led by Highbridge Capital Management, KKR and Sankaty will between them provide £300m of cash, £250m of which will be used to pay down the senior
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