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 bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.