Connect with us

National

Virgin bondholders’ fears realised as $3.5b sale price to Bain revealed – Sydney Morning Herald

Virgin Australia’s unsecured creditors will receive between 9¢ and 13¢ for each dollar they are owed under the airline’s sale to Bain Capital in a deal worth $3.5 billion.

Published

on

Virgin Australias unsecured creditors will receive between 9¢ and 13¢ for each dollar they are owed under the airline’s sale to Bain Capital, in a deal its administrator Deloitte says is worth $3.5 billion.
Deloitte revealed for the first time on Tuesday how much Bain will pay to take control of Australia’s second-largest airline while confirming the fears of bondholders, owed a combined $2 billion, that their debt assets will be mostly wiped out.
Bondholders and other unsecured creditors will…

Click here to view the original article.