{"id":369689,"date":"2020-08-25T08:47:16","date_gmt":"2020-08-25T03:17:16","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=369689"},"modified":"2020-08-25T09:32:28","modified_gmt":"2020-08-25T04:02:28","slug":"virgin-australias-unsecured-creditors-to-get-9-13-return-under-bain-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/virgin-australias-unsecured-creditors-to-get-9-13-return-under-bain-deal\/","title":{"rendered":"Virgin Australia&#8217;s unsecured creditors to get 9-13% return under Bain deal"},"content":{"rendered":"<p>SYDNEY (Reuters) &#8211; Virgin Australia Holdings Ltd&#8217;s unsecured creditors will receive an average return of 9-13% of their funds as part of U.S. private equity group Bain Capital&#8217;s proposed purchase of the airline, administrator Deloitte said in a report on Tuesday. <\/p>\n<p>The unsecured creditors include 6,500 bondholders who are owed A$2 billion ($1.43 billion) by the country&#8217;s second-biggest airline and will receive a return of 8.4-12.8%, less than the 14.4% return for critical suppliers. <\/p>\n<p>Priority creditors and employees will receive 100% of funds owed, the report said. <\/p>\n<p>The Bain deal will be voted on at a meeting of creditors on Sept. 5. Creditors were owed around A$7 billion when the airline in April entered voluntary administration, Australia&#8217;s closest equivalent to the U.S. Chapter 11 bankruptcy regime.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SYDNEY (Reuters) &#8211; Virgin Australia Holdings Ltd&#8217;s unsecured creditors will receive an average return of 9-13% of their funds as part of U.S. private equity group Bain Capital&#8217;s proposed purchase of the airline, administrator Deloitte said in a report on Tuesday. The unsecured creditors include 6,500 bondholders who are owed A$2 billion ($1.43 billion) by the country&#8217;s second-biggest airline and will receive a return of 8.4-12.8%, less than the 14.4% return for critical suppliers. Priority creditors and employees will receive 100% of funds owed, the report said. The Bain deal will be voted on at a meeting of creditors on [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,167,130],"tags":[],"class_list":["post-369689","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-civil-aviation-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=369689"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369689\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=369689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=369689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=369689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}