Gategroup secures new restructuring funding

Gategroup’s shareholders, RRJ Capital and Temasek, and all bank lenders providing syndicated loans to the group, have reached an agreement in principle, under a binding term sheet, to support a comprehensive restructuring of the group’s financial indebtedness. The proposed transaction will provide the group with significant new liquidity to address short and medium-term needs and will help establish a stable capital structure. Key features of the proposed transaction consist of: CHF 500m (US$549 million) new funding provided by shareholders in the form of CHF 25m in equity and a CHF 475m subordinated, convertible loan upon completion of the transaction; CHF