Towergate approaches junior creditors for takeover offers

Bondholders of Towergate's unsecured paper have been invited
this morning (4 December) to make acquisition proposals for the
indebted UK broker intermediary.
In a missive sent to the holders of Towergate's junior debt
- the £278.5mn, 10.5 percent senior 2019 notes - corporate
advisory firm Evercore said investors interested in making a
takeover bid of their own should make their intentions known as
soon as possible.
Other potential acquirers are also being invited to make their
prop