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Yell mulls legal bid to seal debt deal
YELL, the directories group, yesterday said it might go to court to push through plans to refinance its £3.8 billion debt mountain after again extending the deadline for lender approval.
The Yellow Pages group failed to win sufficient support by Wednesday night's cut-off point and gave creditors until last night to agree the restructuring.
Yell, which needs 95 per cent of lenders by value to agree the deal, said it had garnered support from about 90 per cent in a process that has already been extended twice.
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Saturday 26 May 2012
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