EA Partners II to take noteholder suggestions on restructuring options

By Caroline Salls

Pittsburgh, July 17 – EA Partners II BV will allow noteholders to listen to a discussion on the terms of a firm bid received for Alitalia and Air Berlin plc’s debt obligations and to give their views and suggestions on two restructuring options during an informal July 24 conference call, according to a news release.

The first restructuring option calls for a sale of the defaulted debt obligations to a third-party purchaser, including the terms of the firm bid, and the use of the proceeds to partially redeem the notes at a discount. Under the option, the interest rate payable on the outstanding notes would be reset after the partial redemption.

The second option calls for a sale of the defaulted debt obligations and all non-defaulted debt obligations to a third-party buyer or buyers, with the proceeds to be used together with liquidity pool funds to redeem all of the outstanding notes.

Alitalia is an airline based in Rome. The company filed bankruptcy on June 12, 2017 in the U.S. Bankruptcy Court for the Southern District of New York under Chapter 15 case number 17-11618.

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