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Yell extends debt talk deadline again

STRUGGLING directories publisher Yell will today announce plans for a second extension to its deadline for lenders to agree to its refinancing plans, which include a rights issue of at least &pound;500m.<br /><br />The Yellow Pages owner had until last night to secure approval from 95 per cent of its lenders. But the logistics of speaking to 300 creditors slowed the publisher&rsquo;s progress down. <br /><br />The extension will be for a few days, a sign that a high volume of approvals has already been submitted. If agreed, the deal would extend the maturity on the group&rsquo;s &pound;3.8bn debt mountain. <br /><br />Last week, Yell said it had received an initial favourable response from its creditors, but extended the deadline to 5pm last night.<br />