Yell, the UK telephone directories group, on Monday failed to meet its deadline to win enough lender support for plans to restructure its £3.8bn debt. Yell is on Tuesday expected to announce a second deadline extension to give lenders more time to approve the plans. It needs support of 95% of its creditors. The Times reports that Yell’s shares plunged 10% ahead of the group’s 5pm debt deadline.

This entry was posted by Gwen Robinson on Tuesday, October 27th, 2009 at 4:36 and is filed under Capital markets. Tagged with yell. Edit this entry.