Cordiant Looks To Refinance Overdraft After Tough Year

Troubled advertising agency network, Cordiant Communications, is understood to be seeking a refinancing of its £276.4 million overdraft facility after tough trading conditions and negative newsflow have hit the company hard.

Cordiant is reported to be in talks with its bankers about its extending its overdraft, following a period of weak advertising sales and acquisitions which has left the company’s books somewhat unbalanced.

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