Business
‘No side deals’: Bain blasts bondholders over rival Virgin plan – Sydney Morning Herald
Bain Capital has blasted two major bondholders for trying to disrupt the sale with their own rival proposal and claimed they wanted a side deal.
This proposal is conditional, incomplete, indicative and non-binding, a Bain spokesman said in a statement. The proposal is not credible, nor capable of progressing. Stakeholders need certainty and stability, so for the sake of the airline and its employees, Bain Capital will not be distracted by it.
Bondholders were trying to “frustrate the administration process by creating as much noise and interference as possible”, he said.
The spokesman said Broad Peak and Tor recently approached Bain ab…
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