Holland & Barrett’s Russia-Linked Owner Buys Back 99% of Loans

Holland & Barrett’s Russia-linked owner has bought back almost all of the British health-goods firm’s outstanding loans, after creditors sold up amid concern over sanctions and the prospects for UK retail.

The company’s lenders tendered more than 99% of its £885 million debt outstanding, LetterOne Holdings wrote in an emailed statement. The debt was bought back at 75% of face value, the lowest price on offer, according to people familiar with the matter, who asked not to be identified because the details aren’t public.

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