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Oriflame creditors sign co-op to counter LME

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News and Analysis

Oriflame creditors sign co-op to counter LME

Will Macadam's avatar
  1. Will Macadam
•2 min read

An ad hoc group of creditors representing more than 75% of Oriflame’s bonds have signed a co-operation agreement in an effort to combat a recently announced liability management exercise, according to 9fin sources.

The agreement, which became effective yesterday, 4 September, binds the group to collective action as refinancing negotiations with the Swedish beauty products direct seller start to heat up after months of silence.

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