Vitro Offers Exchange

Vitro Offers Exchange

Mexico Equity Bonds Corporate & Sovereign Strategy

After months of trying, Mexico’s Vitro has launched an offer to bondholders, this time with the support of its largest creditor, Fintech Advisory, it says. The glassmaker is offering cash and new securities to holders of its $300m in 8.625% of 2012 bonds, $216m in 11.750% of 2013s and $700m in 9.125% of 2017s. The move, which follows past proposals that have been rebuffed by creditors, is intended as a step toward achieving a debt restructuring carried out under Concurso Mercantil, Vitro sa

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