Eurotunnel Board Settles On Financing Plan

Law360, New York (December 19, 2006, 12:00 AM EST) -- Embattled Channel Tunnel operator has selected the financiers for its restructuring plan, only days after a majority of bondholders followed through on their promise to sign off on the company’s proposal to reorganize nearly $12 billion in debt.

On Monday, the Eurotunnel board chose an enlarged consortium of Goldman Sachs Group Inc., Deutsche Bank AG and Citigroup Inc. to serve as the financial backers for the safeguard plan.

While a group of financial institutions, led by Goldman Sachs and Deutsche Bank, had previously squared off against...
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