Thomas Cook in advanced £150m funding talks

Thomas Cook are in advanced talks to raise £150m from bondholders over the terms of a rescue deal.

The rescue deal cash injection will be on top of the £750m deal already agreed with Chinese firm Fosun. In the company’s half year results in May, the troubled travel company reported a £1.2bn net debt.

Thomas Cook said in a statement to investors, “The discussions with noteholders include the injection of additional capital on top of the previously announced £750m.

“This additional capital, of approximately £150m, will provide further liquidity headroom through the coming 2019-20 winter cash low-period and ensure the business can continue to invest in its strategy.”