The most common form of consensual corporate restructuring is the debt-for-equity swap. Marcus Rea examines the tax issues
The sheer quantum of European debt to be refinanced between 2011 and 2016 is a matter of public record. It is no great surprise that the split of this number is skewed towards those countries that were the heavyweights in the world of private equity.
Depending on who you believe the UK portion of the debt mountain that matures in the next five years could be anywhere from £70 billion to £150 billion. Scaling this wall of debt will require a range of solutions.
The context
There are of course a number of companies that are in good shape. Many of the UK’s largest corporates have significant cash balances and...
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