Cattles faces £400m repayment call

Cattles plc has received a notice from the trustee of bonds to immediately repay £400,000,000 of the 7.125% bonds due in 2017.

This follows a default on repayments by the troubled sub-prime lender earlier in July.

The Board told the stock exchange that it is considering its position in light of the notice says it is has received “written expressions of support”” from representatives of its key financial creditors towards achieving a consensual restructuring. “