From the start of debt negotiations in 2005 to the Paris Commercial Court's approval of the Safeguard Plan in January 2007, including Groupe Eurotunnel SA's Exchange Tender Offer for Eurotunnel, all phases of the financial restructuring are set out in the documents below:
›› June
21/06/07 - Final results of Exchange Tender Offer; Settlement of Groupe Eurotunnel SA (GET SA) shares on 28 June 2007; Initial listing of GET SA shares on Monday 2 July 2007
›› April
06/04/07 - Availability of further information relating to Eurotunnel SA, Eurotunnel PLC and Groupe Eurotunnel SA [...]
05/04/07 - AMF confirms compliance of GET SA Offer. Eurotunnel Joint Board formally recommends to EPLC and ESA shareholders to tender their shares to the offer
›› March
23/03/07 - New step in Safeguard Plan: Exchange tender offer document filed with the AMF
07/03/07 - 2005 and 2006 results on a going concern basis
›› February
19/02/07 - Second step of the Safeguard Plan: Underwriting of available Tier 3 NRS
05/02/07 - First step towards implementing the Safeguard Plan: Tier 3 creditors choose NRS or Cash Option.
›› January
19/01/07 - [pdf] - Summary of the Safeguard Plan
19/01/07 - [pdf] - Addendum to the Safeguard Plan
15/01/07 - [pdf] - Proposed Safeguard Plan presented on 31/10/2006 which became the Safeguard Plan following the approval of the Paris Commercial Court
15/01/07 - Paris Commercial Court Approves Eurotunnel Safeguard Plan
›› December
18/12/06 - Eurotunnel Board approves financing for safeguard restructuring plan with enlarged consortium composed of: Goldman Sachs/Deutsche Bank and Citigroup
14/12/06 - Bondholders* vote in favour of Eurotunnel safeguard restructuring proposals
›› November
27/11/06 - Principal suppliers vote in favour of proposals
27/11/06 - Creditors vote in favour of Eurotunnel safeguard restructuring proposals
26/11/06 - Citigroup and Goldman Sachs/Deutsche Bank put forward binding proposals to finance Eurotunnel Restructuring Plan
24/11/06 - Clarifying document sent to the creditors by the Court-appointed Representatives
17/11/06 - [pdf] - Favourable opinion of the creditors' representatives
14/11/06 - [pdf] - Favourable opinion of the creditors' representatives
›› October
31/10/06 - Proposals for draft plan
26/10/06 - The “Safeguard” restructuring proposals: simple, balanced and realistic
03/10/06 - [pdf] - Safeguard procedure - Message from the Court-appointed representatives
›› August
02/08/06 - Eurotunnel obtains protection from Paris Commercial Court
›› July
25/07/06 - Paris Commercial Court postpones decision
13/07/06 - EGM cancelled
13/07/06 - Eurotunnel seeks legal protection of the Paris' Commercial Court
07/07/06 - Meeting with subordinated creditors
03/07/06 - Update
›› June
27/06/06 - Eurotunnel's news release
13/06/06 - AGM postponed until 27/07/06
04/06/06 - Details on the Agreement signed between Eurotunnel and the Ah Hoc Committee
›› May
31/05/06 - Presentation of the Preliminary Restructuring Agreement agreed between Eurotunnel and the Ad Hoc Committee
24/05/06 - Eurotunnel and Ad Hoc Committee sign a preliminary binding restructuring agreement
18/05/06 - Update on progress with restructuring
16/05/06 - Eurotunnel converts Stabilisation and Resettable Advances into Stabilisation Notes and Resettable Bonds
15/05/06 - Eurotunnel shares suspended in Paris
02/05/06 - Suspension of trading in Eurotunnel shares on London Stock Exchange
›› April
26/04/06 - Eurotunnel obtains 3rd waiver to allow it to negotiate all creditors
12/04/06 - Eurotunnel requests waiver extension to continue negotiations
12/04/06 - [pdf] – Special warning report by the Auditors
›› March
21/03/06 - Eurotunnel to convert elements of debt into bonds
›› February
17/02/06 - Eurotunnel receives creditor agreement for a second waiver. Eurotunnel will now present the financial restructuring framework agreed with the Ad Hoc Committee to other creditors
02/02/06 - Memorandum of Understanding agreed by Eurotunnel and Ad hoc Committee.
01/02/06 - Negotiations between Eurotunnel and the Ad Hoc Committee of lenders.
›› January
12/01/06 - Eurotunnel to leave SRD
›› September
28/09/05 - Eurotunnel decides not to seek conversion of stabilisation advances and notes
›› August
22/08/05 - Jean-Pierre Trotignon appointed Chief Operating Officer
05/08/05 - A new start for EurotunnelPlus
›› July
13/07/05 - Debt negotiations
›› April
20/04/05 - Eurotunnel obtains the waiver to the Credit Agreement required to start the renegotiation of its debt
05/04/05 - Eurotunnel formally requests a "waiver" in order to begin debt negociation
›› March
30/03/05 - Eurotunnel requests waiver