CIE Wraps-up Restructure

CIE Wraps-up Restructure


Mexican gaming operator CIE has agreed with bank and bond creditors to restructure MXP5.6bn, it says, pushing out maturities by 5 years. Three classes of local bonds – a MXP500m tranche maturing December 2009, a MXP650m 2010 piece and MXP1.4bn 2010 – will be rolled into a single deal due 2014, paying TIIE plus 300bp. MXP2.7bn equivalent in dollar and peso bank debt will also be reworked on to the same schedule on the same terms, with the dollar debt paying Libor plus 300bp. Quarterly amortizatio

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