May 10, 2006
Mexican steelmaker Altos Hornos de México (Ahmsa) has agreed a new debt res
Mexican steelmaker Altos Hornos de México (Ahmsa) has agreed a new debt restructuring plan with a "substantial number" of its creditors, according to the company. The deal offers creditors $250 million in cash, $600 million in 10-year bonds yielding 9% annual interest and $150 million in convertible bonds, as well as a 27% equity stake. Ahmsa defaulted on $1.8 billion of bank loans and debt securities in 1999.