Biffa restructuring finally agreed

UK waste management company agrees to a restructuring that will see its lenders, led by HSBC, take control

Friday 30 November 2012 at 17:00

Equity holders have agreed to cede control of UK waste firm Biffa to lenders, bringing to an end one of the largest private equity restructurings of the year.

In a statement, Biffa said that lenders led by HSBC had agreed to a restructuring that will see a cash injection of £75m made in exchange for a majority equity stake in the business and the total debt being reduced to £520m from £1.1bn.