Deutsche Bank tries to block Ardagh’s $10bn restructuring deal
Billionaire Paul Coulson is ceding control of packaging group to bondholders but some noteholders are unhappy over terms
Billionaire Paul Coulson is ceding control of packaging group to bondholders but some noteholders are unhappy over terms

Contentious restructuring has led to rare public fight between holders of derivatives designed to protect against default

Agreement ends year of negotiations with creditors owed more than $10bn

Ardagh’s $10bn restructuring allows creditors to command big premiums for ‘when issued’ bonds

Loans trade at distressed levels after ‘chaotic’ selling as investors brace for tricky restructuring

Sam Woods says change lobbied for by industry would ‘be equivalent to ripping off our jacket, warm hat and gloves’

Lenders from Deutsche Bank to Trade Republic are trying to woo customers to the asset class