Lighthouse International Company SA (FC030564): administration
- Status
- Administration ended
- Administration began
- 2012-07-27
- Administrators
- Simon John Granger, Chad Griffin, Simon Kirkhope
- Administrators' firm
- FTI Consulting
- Incorporated
- 2011-12-13
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Lighthouse exists solely as a part of the financing structure of Seat Pagine Gialle SpA (“Seat”), an Italian listed directories business Lighthouse ts approximately 25% owned by Seat, and the balance of its equity is owned by a charitable trust
In April 2004, Lighthouse issued €1 3bn 8% bonds due 2014 (‘the HY Bonds” and the holders thereof “the HY Bondholders”), which are listed on the Luxembourg stock exchange The proceeds of the HY Bonds were lent by Lighthouse to Seat ("the Proceeds Loan’)
The relevant security and guarantee arrangements in relation to the Proceeds Loan are
Administrators' statement of proposals (2012-09-07) · Companies House register