PARIS — Vivarte said it has reached an agreement with a group of 12 lenders to reduce its existing debt of 2.8 billion euros, or $3.8 billion at current exchange, to 800 million euros, or $1.1 billion.
The remaining 2 billion euros, or $2.7 billion, of debt are to be converted “into equity and quasi-equity instruments, so that current lenders will become shareholders at the end of the restructuring process,” the company said.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"