Eurostar in Emergency Talks to Restructure Debts, Telegraph Says
Eurostar is in talks with banks including NatWest for emergency funding after passenger numbers at the channel tunnel operator fell 95% last year, the Sunday Telegraph reported.
The company borrowed hundreds of millions from lenders including Santander and France’s Credit Agricole and must repay debt of 400 million pounds ($552 million) by June, the newspaper said. There is an option to extend for another 12 months, but this would require Eurostar to adhere to strict financial covenants such as retaining a minimum cash balance of 35 million pounds, according to the report.
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