Seat Pagine wins senior secured noteholder consent for restructuring

By Caroline Salls

Pittsburgh, March 7 - Seat Pagine Gialle SpA has received consents from holders of more than 97% of its senior secured notes for its final restructuring proposal, according to a company news release.

The company said the senior secured noteholders' formal consent will come after noteholders' meetings scheduled for March 29 and March 30.

With these consents, Seat Pagine said it can implement the restructuring transaction once the noteholders' meetings have been held.

The consent deadline was Wednesday, and the company said the senior secured noteholders, senior banking lender interested parties and the holders of the €1.3 billion of 8% notes due 2014 issued by Lighthouse International Co. SA all exceeded the 75% consent threshold for the proposal.

According to the release, the restructuring also has the full support of the company's core shareholders.

Seat Pagine Gialle is a yellow pages company based in Torino, Italy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.