San Leon’s plans to use funds from the placing of new shares to buy back the $173m of loan notes. Toscafund, a majority shareholder in the firm with a 1.5% stake, holds the loan notes which will be sold to San Leon providing the placing completes.
San Leon’s plans to use funds from the placing of new shares to buy back the $173m of loan notes. Toscafund, a majority shareholder in the firm with a 41% stake, holds the loan notes which will be sold to San Leon providing the placing completes.