Ok, full sentence
Under the proposal, the Group is targeting an injection of £750 million of new money which would provide sufficient liquidity to trade over the Winter 2019/20 season and the financial flexibility to invest in the business for the future
The point remains, it is not, as jonty claims, a 750m "investment into the business" - predominantly it is just to keep the wheels turning over the winter (and the key word is "flexibility to invest" - which I read to mean, loan covenant headroom is improved, but that it would require more borrowing on top to do anything above just keeping the wolf from the door over the winter) It's the bond holders who account for the vast majority of the debt (about 1bn), so I really can't see why they'd trade it (and their rights to the assets) for some almost worthless equity - but id be happy to be proved wrong (usually am)!
https://www.standard.co.uk/business/...box=1562950827
and FT - "Thomas Cook and Fosun will also need to convince the travel group’s bondholders. “The question is what Fosun will offer bondholders and the banks, and then what it will do with the business in future,” said one investor in the group’s bonds. “We also worry about the regulatory view from the three jurisdictions in UK, Germany and the Nordics, given the Chinese buyer,” they added". .
https://www.ft.com/content/6f6d37d2-...c-ad1c6ab5efd1