Yell finalises backing for rescue pakage - Business - Evening Standard
       

Yell finalises backing for rescue pakage

Yellow pages directory publisher Yell started talking to shareholders today over its plans to raise at least £500 million through a share issue.

This followed four months of talks with its 300 banks for its refinancing package. The last two banks gave their approval last night.

It is expected that details of the share issue will be revealed within a fortnight. Yell shares jumped 1.3p to 52.6p on the news but analysts predict a heavily discounted new issue price.

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