Corporate
Announcement - Proposed capital restructuring
New Star has reached agreement in principle with its bank syndicate on the terms of a proposed capital restructuring which will result in the majority of its gross debt being converted into equity and will give New Star a much stronger balance sheet. In the current climate, it is paramount that investors have confidence in the financial strength of the institutions with which they deal. We have taken this decisive and comprehensive action to restore confidence and bring stability to the business. Our priority now is to focus on improving investment performance. For further details on the proposed capital restructuring, please see the related press release and expected timetable of events.
Announcement - Proposed capital restructuring
New Star has reached agreement in principle with its bank syndicate on the terms of a proposed capital restructuring which will result in the majority of its gross debt being converted into equity and will give New Star a much stronger balance sheet. In the current climate, it is paramount that investors have confidence in the financial strength of the institutions with which they deal. We have taken this decisive and comprehensive action to restore confidence and bring stability to the business. Our priority now is to focus on improving investment performance. For further details on the proposed capital restructuring, please see the related press release and expected timetable of events.