Losers in Eurotunnel restructuring plan draw up deal

The holders of nearly £2bn (€2.9bn) of debt in Eurotunnel are drawing up a rival restructuring plan for the troubled group, it was reported today.

So-called junior bondholders are working on their own refinancing scheme for the company’s £6.2bn (€9bn) debt mountain put together by Deutsche Bank, which is believed to be the main holder of the lowest tier of debt, according to Sunday newspaper reports.