Deals

Thomas Cook Creditors Back $1.1 Billion Fosun-Led Rescue

Banks and bondholders agree terms of debt-for-equity swap
Travel firm says it could delist following recapitalization

A Thomas Cook check-in desk at Gatwick Airport, U.K.Photographer: Chris Ratcliffe/Bloomberg

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By Richard Weiss and Luca Casiraghi

August 28, 2019 at 6:15 AM UTC

Updated on

August 28, 2019 at 8:22 AM UTC

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Debt-laden U.K. travel giant Thomas Cook Group Plc secured the backing of its lending banks and bondholders for a 900 million-pound ($1.1 billion) bailout led by Chinese investor Fosun Tourism Group.