La Polar Gets 98% in Debt Swap

La Polar Gets 98% in Debt Swap

Chile Corporate & Sovereign Strategy

Creditors of Chile’s La Polar have agreed to swap 98% of the debt that was on offer in a process started in June, according to people familiar with the matter, with new bonds replacing debt the retailer agreed to restructure in a 2011 agreement. The debt includes bonds and commercial paper issued by La Polar and debt La Polar had with the banking system. On offer for creditors were up to CLP196.8bn ($389m) in a new senior bond, and about UF11m ($501m) in a junior 2023 series. The 2022 bonds pay

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial