Southern Europe unquote" July 2010
The large banking syndicate holding debt in Spanish bakery business Panrico looks likely to follow through with a debt-for-equity swap after attempts to refinance the leverage package failed.
]The syndicate, comprising as many as 100 institutions, is currently finalising the exact details of the swap, although it is believed that Apax will lose the majority of its holding in the business. The latest company filings for Panrico showed that it held more than €550m of debt on its books in 2008.
In the July edition of Southern Europe unquote":
- Private equity-backed derivatives
- Italy's new bankruptcy act
- Activity in the cleantech space
- And more...
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