EUROTUNNEL has announced that it has obtained a waiver to the credit agreement which links it to its creditors.

The waiver was originally requested on April 5 and has now been approved.

The senoir debt holders and the co-financiers both voted just over 87 per cent in favour of the waiver.

Jacques Gouon, chairman of the Eurotunnel joint board, said: "I applaud the sense of responsibility shown by Eurotunnel’s creditors who have approved this waiver rapidly and by a large majority."