Yell Talking to Lenders to Avert Covenant Breach, Times Reports
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Yell Group Plc, publisher of the U.K.’s yellow pages directories, has started talks to renegotiate covenants governing its loans, the Sunday Times reported, without saying how it got the information.
Chief Executive Officer Mike Pocock is in discussions with a syndicate of more than 300 lenders amid concern the publisher will breach the terms of more than 2.8 billion pounds ($4.5 billion) of loans amassed during a takeover spree, the newspaper said.