Legal Week reports
January 22, 2003 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
A team of top US and UK law firms has finalised the restructuring of ailing telecoms giant NTL and taken it out of Chapter 11 insolvency proceedings.
Spencer Summerfield, Travers Smith Braithwaite client partner for NTL, led the team to advise the company on its restructure.
He said: “This is probably the biggest European bond restructuring ever. It involved five separate banking syndicates with a total debt of £5.4bn and 25 different series of bands with a total debt of £7.6bn.
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