Tele Columbus Lenders Near €350 Million Financing in Debt Rework

Tele Columbus Lenders Near €350 Million Financing in Debt Rework A group of lenders to Tele Columbus AG are nearing a deal to provide around €350 million ($392 million) of new loans as part of a planned debt restructuring for the struggling German internet service provider. The financing is part of a broader restructuring plan that would see the creditors assume control of the firm in return for cutting its existing debt load, people familiar with the matter said, asking not to be identified discussing private information. Morgan Stanley Infrastructure Partners, which owns almost all of Tele Columbus, would see its stake fall to 15% after the revamp under the proposal, the people said.