Hedge funds squeeze €9m concessions from Euro Disney

Hedge funds holding 40% of senior debt issued by Euro Disney, operator of the Paris theme park, have forced it to concede €9m ($11m) a year in extra interest payments in return for confirming a financial restructuring.

Black Diamond, the US hedge fund manager, led other funds in demanding a 2% increase in the interest payments on the company's €450m of senior debt.

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