Related News
Yell has plans to get out of the red
By Myles Neligan and Paul Sandle |
September 24, 2009, Thursday
|
Print Edition
Print Edition
DEBT-LADEN British yellow pages publisher Yell Group Plc plans to raise at least 500 million pounds (US$817 million) by selling new shares, using the proceeds to repay creditors, it said yesterday.
Yell, which is battling an advertising slump as it negotiates a structural shift from print to online publishing, currently has debts of about 4 billion pounds compared with its market capitalization of about 583 million pounds.
The company said current trading was in line with its previous guidance, with a sales decline expected to slow to 16 percent in the next quarter from 17 percent this quarter. It expects no material improvement this fiscal year.
Unveiling a refinancing plan under discussion since June, Yell said it intended to pay off a further 300 million pounds of debt within 18 months through a receivables securitization, high-yield bond, a larger initial equity issue or other means.
Yell publishes print and online directories in Britain, the United States, Spain and Latin America.
Yell, which is battling an advertising slump as it negotiates a structural shift from print to online publishing, currently has debts of about 4 billion pounds compared with its market capitalization of about 583 million pounds.
The company said current trading was in line with its previous guidance, with a sales decline expected to slow to 16 percent in the next quarter from 17 percent this quarter. It expects no material improvement this fiscal year.
Unveiling a refinancing plan under discussion since June, Yell said it intended to pay off a further 300 million pounds of debt within 18 months through a receivables securitization, high-yield bond, a larger initial equity issue or other means.
Yell publishes print and online directories in Britain, the United States, Spain and Latin America.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
