Business
Bondholders pressure Deloitte with new Virgin offer – The Australian Financial Review
The rebel bondholders say they have the funds to pull off a deal to trump one from private equity’s Bain Capital.
No detail was made public about where the financing would come from.
Deloitte acknowledged receiving a proposal and said it would be “considered in due course”.
The previous rejected offer involved bondholders’ debt being converted to equity and about $1 billion injected into Virgin, which would then relist on the ASX. That offer included a tentative deed of company administration a debt restructuring deal and interim funding.
Virgin, squeezed when the coronavirus pandemic resulted in borders…
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