Vitro Preps Consent Solicitation

Vitro Preps Consent Solicitation

Corporate & Sovereign Strategy

Mexican glassmaker Vitro has met with a bondholder committee and plans to revise its strategy to reach a restructuring agreement, it says, through a consent solicitation to the broader creditor group. The company anticipates being able to launch the consent by early August 2010 and says the proposal represents higher recovery than the average market price for the past 6 months. It does not indicate details of the proposal, and a company official declines to comment. Barclays sees the change in s

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