Telewest Communications, U.K. media group, said it reached restru...
Telewest Communications, U.K. media group, said it reached restructuring agreement with ad hoc committee of bondholders under which all outstanding debt issued by company representing $5.48 billion of debt will be cancelled and exchanged for ordinary shares representing 97%…
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of issued ordinary share capital of company. Preliminary restructuring agreement is nonbinding, it said, and subject to conditions, including agreement among Telewest, bondholder committee and Telewest’s senior lenders.