Lenders Take Haircut in Selecta Fire Sale

Lenders Take Haircut in Selecta Fire Sale

Corporate & Sovereign Strategy

Creditors of Brazilian seed specialist Selecta Sementes stand to take an average haircut of around 38% on roughly $400m worth of debt following its restructuring, say people close to the matter. The private company went into bankruptcy in May following losses stemming from CBOT-traded soy options and two days ago received judicial approval to sell itself to Argentina’s Los Grobo for $55m. Total outstanding debt, which includes several facilities – local, cross-border, secured and unsecured – is

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