Lenders support Yell's debt amendments
Shares in Yellow Pages publisher Yell Group roared higher on Monday morning after its lenders agreed on amendments to financing.
Shares in Yellow Pages publisher Yell Group roared higher on Monday morning after its lenders agreed on amendments to financing.
Yell had been in talks with its lenders since November to increase the headroom under its net debt-to-EBITDA (earnings before interest, tax, depreciation and amortisation) covenant, as well as other debt-related and administrative amendments.
The net debt-to-EBITDA ratio shows how long it would take for a company to pay-off its debt, assuming both net debt and EBITDA do not change.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The proposals have now been approved by an "overwhelming majority of lenders", the statement said.
"We are pleased that, with this decision, lenders have strongly endorsed our new strategy and have given the group additional freedom to carry out its transformation programme," said Chief Financial Officer Tony Bates.
By 08:38, shares had jumped 17.34% to 6.7p.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
New Chase bonus deal takes savings rate to 4.75% – is it worth it?
Chase’s latest savings deal propels it into first place in the best-buy tables, but there are some pitfalls to look out for
By Katie Williams Published
-
Review: Trasierra – a yoga retreat in the Spanish hills
Flora Connell joins a yoga retreat at Trasierra, in the Sierra Morena mountains north of Seville
By Flora Connell Published