Vitro Issues CLN Notes

Vitro Issues CLN Notes

Mexico Bonds Corporate & Sovereign Strategy Structured Finance

Vitro has issued credit-linked securities (CLNs) to creditors in compliance of its obligations under a February 3 restructuring agreement approved by Mexico’s Fourth District Court, it says. The CLN securities are issued by trusts and linked to Vitro’s new 8.0% notes due 2018, 12% mandatory convertible debentures (MCDs) due 2015 – which are mandatorily convertible into 20% of Vitro’s equity if not paid in full at maturity. Banco Invex, Institucion de Banca Multiple, Invex Grupo Financiero are th

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