Outsourcing giant Interserve has agreed a debt-for-equity swap with its lenders as part of plans to slash its near-£650 million debt mountain and put the firm on a secure financial footing. Outsourcing giant Interserve has agreed a debt-for-equity swap with its lenders as part of plans to slash its near-£650 million debt mountain and put the firm on a secure financial footing. Under the terms of the deal, existing shareholders will be wiped out and Interserve’s net debt will reduce to £275 million. But Debbie White, Interserve chief executive, said: “The board believes that this agreement will secure a strong future for Interserve. “Its successful implementation is critical to the Interserve group’s future and all of its stakeholders.

Source: Irish Independent February 06, 2019 08:04 UTC