Financial restructuring
From the start of debt negotiations in 2005 to the Paris Commercial Court's approval of the Safeguard Plan in January 2007, including Groupe Eurotunnel SA's Exchange Tender Offer for Eurotunnel, all phases of the financial restructuring are set out in the documents below:
June
21 June 2007 - 8:00 a.m.
Final results of Exchange Tender Offer – Settlement of Groupe Eurotunnel SA (GET SA) shares on 28 June 2007 – Initial listing of GET SA Shares on Monday 02 July 2007
April
05 April 2007 - 8:00 a.m.
AMF* confirms compliance of GET SA Offer – Eurotunnel Joint Board formally recommends to EPLC and ESA shareholders to tender their shares to the offer
March
23 March 2007 - 9:00 a.m.
New step in Safeguard Plan: Exchange tender offer document filed with the AMF*
07 March 2007 - 9:00 a.m.
2005 and 2006 results on a going concern basis
February
19 February 2007 - 9:00 a.m.
Second step of the Safeguard Plan: Underwriting of available Tier 3 NRS
05 February 2007 - 9:00 a.m.
First step towards implementing the Safeguard Plan: Tier 3 creditors choose NRS or Cash Option
January
19 January 2007 - 3:49 p.m.
Summary of the Safeguard Plan
19 January 2007 - 3:49 p.m.
Addendum to the Safeguard Plan
15 January 2007 - 3:50 p.m.
Proposed Safeguard Plan presented on 31/10/2006 which became the Safeguard Plan following the approval of the Paris Commercial Court
15 January 2007 - 9:00 a.m.
Paris Commercial Court Approves Eurotunnel Safeguard Plan
December
18 December 2006 - 9:00 a.m.
Eurotunnel Board approves financing for safeguard restructuring plan with enlarged consortium composed of: Goldman Sachs/Deutsche Bank and Citigroup
14 December 2006 - 9:00 a.m.
Bondholders* vote in favour of Eurotunnel safeguard restructuring proposals
November
27 November 2006 - 7:00 a.m.
Principal suppliers vote in favour of proposals
26 November 2006 - 7:00 a.m.
Citigroup and Goldman Sachs/Deutsche Bank put forward binding proposals to finance Eurotunnel Restructuring Plan
24 November 2006 - 7:00 a.m.
Clarifying document sent to the creditors by the Court-appointed Representatives
14 November 2006 - 4:27 p.m.
Favourable opinion of the creditors’ representatives
14 November 2006 - 4:27 p.m.
Favourable opinion of the creditors’ representatives
October
31 October 2006 - 7:00 a.m.
Proposals for draft Plan
26 October 2006 - 7:00 a.m.
The “Safeguard” restructuring proposals: simple, balanced and realistic
03 October 2006 - 4:28 p.m.
Safeguard procedure – Message from the Court-appointed representatives
August
02 August 2006 - 7:00 a.m.
Eurotunnel obtains protection from Paris Commercial Court
July
25 July 2006 - 7:00 a.m.
Paris Commercial Court postpones decision
13 July 2006 - 7:00 a.m.
EGM cancelled
13 July 2006 - 7:00 a.m.
Eurotunnel seeks legal protection of the Paris’ Commercial Court
07 July 2006 - 7:00 a.m.
Meeting with subordinated creditors
June
27 June 2006 - 7:00 a.m.
Eurotunnel’s news release
13 June 2006 - 7:00 a.m.
AGM postponed until 27/07/06
04 June 2006 - 7:00 a.m.
Details on the Agreement signed between Eurotunnel and the Ad Hoc Committee
May
31 May 2006 - 7:00 a.m.
Presentation of the Preliminary Restructuring Agreement agreed between Eurotunnel and the Ad Hoc Committee
24 May 2006 - 7:00 a.m.
Eurotunnel and Ad Hoc Committee sign a preliminary binding restructuring agreement
18 May 2006 - 7:00 a.m.
Update on progress with restructuring
16 May 2006 - 4:57 p.m.
Eurotunnel converts Stabilisation and Resettable Advances into Stabilisation Notes and Resettable Bonds
15 May 2006 - 7:00 a.m.
Eurotunnel shares suspended in Paris
02 May 2006 - 7:00 a.m.
Suspension of trading in Eurotunnel shares on London Stock Exchange
April
26 April 2006 - 7:00 a.m.
Eurotunnel obtains 3rd waiver to allow it to negotiate all creditors
12 April 2006 - 5:04 p.m.
Eurotunnel obtains 3rd waiver to allow it to negotiate all creditors
12 April 2006 - 5:04 p.m.
Special warning report by the Auditors
March
21 March 2006 - 7:00 a.m.
Eurotunnel to convert elements of debt into bonds
February
17 February 2006 - 7:00 a.m.
Eurotunnel receives creditor agreement for a second waiver. Eurotunnel will now present the financial restructuring framework agreed with the Ad Hoc Committee to other creditors
02 February 2006 - 7:00 a.m.
Memorandum of Understanding agreed by Eurotunnel and Ad hoc Committee
01 February 2006 - 7:00 a.m.
Negotiations between Eurotunnel and the Ad Hoc Committee of lenders
January
12 January 2006 - 7:00 a.m.
Eurotunnel to leave SRD
September
28 September 2005 - 7:00 a.m.
Eurotunnel decides not to seek conversion of stabilisation advances and notes
July
13 July 2005 - 7:00 a.m.
Debt negotiations
April
20 April 2005 - 7:00 a.m.
Eurotunnel obtains the waiver to the Credit Agreement required to start the renegotiation of its debt
05 April 2005 - 7:00 a.m.
Eurotunnel formally requests a “waiver” in order to begin debt negociation
March
30 March 2005 - 7:00 a.m.
Eurotunnel requests waiver