CHAMP-backed Blue Star bail-out approved by bondholders
Bondholders in troubled New Zealand printing firm Blue Star have backed a $25 million restructuring package supported by CHAMP Private Equity. At a meeting of around 200 bondholders in Auckland, 76.9% voted in favor of the proposal, surpassing the 75% approval threshold, the National Business Review reported.
Under the terms of the restructuring package, the bondholders will write off NZ$32.5 million ($26.7 million) of unpaid accrued interest on their $105 million worth of bonds and swap the principal into...
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