September 20, 2019 / 6:15 AM / a year ago

Thomas Cook confirms lenders' request for extra 200 mln stg in rescue deal

LONDON, Sept 20 (Reuters) - British travel firm Thomas Cook on Friday said an extra 200 million pounds ($251.48 million) had been requested by stakeholders in talks to finalise the restructuring plan to save the company.

The world's oldest holiday company, agreed the key terms of a 900 million pound ($1.1 billion) recapitalisation plan in a deal with Chinese shareholder Fosun last month, but on Thursday a source said that lenders were demanding another 200 million pounds in underwritten funds.

"Discussions to agree final terms on the recapitalisation and reorganisation of the Company are continuing between the company and a range of stakeholders," Thomas Cook said in a statement.

"These discussions include a recent request for a seasonal standby facility of 200 million pounds, on top of the previously announced 900 million pounds injection of new capital."

$1 = 0.7953 pounds Reporting by Alistair Smout; editing by Kate Holton

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below