Update on restructuring of Park Street Nordicom A/S

København, 2017-07-14 13:02 CEST (GLOBE NEWSWIRE) --  

The restructuring of Park Street Nordicom A/S is making further progress.

We have now finalised the terms for refinancing and restructuring of existing facilities into long term debt from all key financial creditors. Park Street Nordicom A/S will now proceed with the implementation of the new terms.

New terms for 99.6 % of the total existing debt have now been agreed with financial creditors. There remain some uncertainties with one creditor representing 0.4% of the debt, where the discussion is ongoing.

The impact of the new terms is in line with the EBVAT expectations for 2017 outlined in the 2016 Annual Report.

Andrew La Trobe                       Pradeep Pattem

Chairman                                   CEO