Finance
Sweden’s Intrum Wins Bondholder Support for Restructuring
- More than 66.7% of noteholders have signed onto to lock-up
- Intrum is yet to decide the implementation route for the deal
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Swedish debt collector Intrum AB won bondholder support to start restructuring a 58.4 billion-krona ($5.7 billion) debt pile as it seeks to put its finances on a more sustainable footing.
More than 66.7% of bondholders signed up to a lock-up agreement, passing a threshold allowing for the deal to be implemented, according to a statement on Friday. The accord means creditors are now bound to the eventual restructuring process, whatever form it may take. Intrum “strongly encourages its remaining noteholders” to support the move, it said.