Proposal for financial restructuring of Slovenian Merkur has been submitted to the court yesterday. It schedules recapitalization worth at least EUR 85 million. The recapitalization should be conducted through debt for equity swap. The price of the share stands at EUR 57.5 for ordinary creditors, while privileged creditors will have to pay EUR 40 per share.
Creditors who decide against the debt for equity swap will be paid back 60 percent of the debt the company owes them in the next five years. "This proposal is a compromise which means that everyone will loose something and have to renounce something so Merkur could continue normal operation", announced the company.
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