Light at the end of the Eurotunnel

Author: Dan Andrews | Published: 21 Dec 2006

Although Eurotunnel has agreed a deal to restructure the group's €9 billion ($11.7 billion) debt, the arrangement isn't out of the woods yet.

The legal aspects of negotiations with Eurotunnel's principal creditors, and the new financing package to be provided to the group post-restructuring by a consortium of financiers, are close to completion.

The company secured the agreement of its most junior creditors last...