Slater & Gordon: In talks about stabilisation of capital structure

Company News

by Jessica Amir

Slater and Gordon Limited (ASX:SGH) has announced it’s in confidential discussions with its lenders about the stabilisation of its capital structure.

The multinational law firm has been informed by the New Senior Lenders that they fully intend on implementing a solvent restructure of the company.

The New Senior Lenders will also enter into binding agreements to reset the firm’s debt structure, so it can provide a stable platform for its future operations in Australia and the UK.

The company and the New Senior Lenders believe a restructure by a debt for equity Lender Scheme of Arrangement will be in the best interests of all stakeholders.

Slater and Gordon Limited (ASX:SGH) will provide a further update in the coming weeks.

Shares in Slater and Gordon Limited (ASX:SGH) are currently about 29% higher at $0.12
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.