Technicolor asks lenders to waive default condition after rights issue pulled

Technicolor has asked its lenders to waive a default condition so it can appoint a conciliateur and begin a consensual debt restructuring process that includes €400m of new financing and a debt-for-equity swap. This follows the failure of the company’s planned €300m rights issue, announced in mid-February but thrown off course by the coronavirus pandemic.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article: