SMU Extends Waiver

SMU Extends Waiver

Banks have granted Chile's SMU an extension of its covenant waivers, SMU says, extending through "a range of dates" that begin October 15. It is the second such extension. The agreements were necessary following SMU's July revelation of financial errors that showed a breach of covenants. Last week, shareholders approved a capital increase that should bring in more than $500m. The plan is for CLP167.33bn ($335m) to come from controller Alvaro Saieh this year, and another CLP111.33bn at some point

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