Yellow Pages owner Hibu set for more crunch ownership talks

Michael Bow
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DEBT-laden Yellow Pages publisher Hibu is set to step up ownership talks with a six-strong consortium of creditors after winning a reprieve on its loan conditions.

Hibu, which has £2.2bn of debts, won a reprieve from its lenders on Friday to waive some debt conditions – helping smooth plans put forward in July for a capital restructure.

A credit committee, including Royal Bank of Scotland, Alcentra, Blackstone’s credit business GSO and Gruss Asset Management, are hatching a plan with management for a possible debt-for-equity swap, altering the ownership of the firm.