26/11/2006 - Citigroup and Goldman Sachs/Deutsche Bank put forward binding proposals to finance Eurotunnel Restructuring Plan .
Eurotunnel has received two binding proposals to finance the restructuring plan that will be the subject of a creditor vote on Monday 27 November 2006.
Citigroup and a consortium composed of Goldman Sachs and Deutsche Bank have sent offer letters to the company setting out terms for financing the whole plan thus proving the credibility of the forecasts upon which it is based.
The proposals will be analysed by the company’s advisors and then by its Audit Committee before being put to the Board for approval.
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Eurotunnel manages the infrastructure of the Channel Tunnel and operates accompanied Truck Shuttle and Passenger Shuttle (car and coach) services between Folkestone, UK and Calais, France. Eurotunnel also earns toll revenue from train operators (Eurostar for rail passengers, and EWS and SNCF for rail freight) which use the Tunnel. Eurotunnel is quoted in London, Paris and Brussels. |