Yell Group Plc has been locked in talks for months to refinance their business in an aim to cut £3.8 billion in debt and now 95% of their lenders have agreed to the refinancing plans.

The deal allows Yell to raise a £500,000,000 share sale.

It has been a long process for Yell not being helped by their lenders wings being clipped regarding due to the restrictions placed on them. It has been stated that Yell had at one point threatened to go to court to push the deal through.

Happily though, one of the UK’s most well known businesses have struck a deal to put their plans in action.

With businesses like Yell struggling to refinance their business, it is no wonder that small business finance in the UK is hard to find.

At www.local-business-finance.co.uk our aim is to help small businesses raise the finance they need to keep their plans on track.