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Published on 10/30/2009 in the Prospect News Bank Loan Daily.

Yell Group waits on OK from two loan lenders to complete refinancing

By Sara Rosenberg

New York, Oct. 30 - Yell Group plc is awaiting acceptances from the final two lenders under its credit facility in order to complete its comprehensive refinancing proposal, according to a news release.

Consents from these two lenders are necessary to cross the 95% threshold.

In addition, the company will require confirmation of the final count from HSBC as the agent, following final verification and reconciliation of the acceptances.

In late September, the company launched a refinancing that would revise its credit facility to extend debt maturities to 2014, revise pricing and covenants, and allow for the issuance of bonds.

Yell is a Reading, England-based directories company.


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