PRESS DIGEST- Financial Times - March 11
BoE tightens bank liquidity buffers before Brexit https://on.ft.com/2EJYAE4 Debenhams eyes larger refinancing to fend off Mike Ashley https://on.ft.com/2TulDgn
Interserve's banks line up pre-pack administration https://on.ft.com/2ENXsPR Overview
The Bank of England has told some British lenders to triple the amount of easy-to-sell assets they hold, to be able to withstand severe stress in case of a no-deal Brexit later this month. UK retailer Debenhams Plc may increase the size of its refinancing to "fend off" attempts by Mike Ashley and his company Sports Direct to control the retailer and dismiss all but one director.
Banks for Interserve have lined up a pre-pack administration that will wipe out existing shareholders but will help the company avoid collapse, if investors reject Interserve's debt-for-equity swap at a vote on Friday. (Compiled by Bengaluru newsroom; Editing by Daniel Wallis)
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