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Cortefiel.

Publication: Acquisitions Monthly
Publication Date: 01-SEP-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Cortefiel.(Restructuring news)

Article Excerpt
Spanish clothing retailer Cortefiel has completed a combined waiver consent solicitation, debt buyback and 60m [euro] equity injection to reset the 1.385bn [euro] facilities put in place in a 2007 recapitalisation.

The deal comes despite suggestions that the credit rally seen since April combined with an absence of forced sellers or stressed debt holders had scuppered the viability of such deals.

Sponsors CVC, PAI and Permira...

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