October 25, 2012 / 6:40 AM / in 5 years

Hibu to temporarily stop repaying lenders

Oct 25 (Reuters) - Debt-laden Yellow Pages publisher Hibu Plc said it would suspend all payments of principal and interest to lenders until it concluded an ongoing restructuring of balance sheet.

“A number of waivers, consents and amendments are being sought from the wider lending group in the coming days so that the restructuring discussions can proceed as efficiently and effectively as possible,” Hibu said in a statement.

The company, formerly known as Yell Group, said its restructuring could dilute shareholders’ interests.

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