Alsacia plans new bond in restructuring

Alsacia plans new bond in restructuring

Bonds Corporate & Sovereign Strategy

Inversiones Alsacia plans to issue a new $347.3m 2018 bond as part of a restructuring agreement with a group of bondholders of its 8% 2018 144A/RegS notes, the company said on Tuesday. The group of bondholders involved in the negotiations controls more than 60% of the principal amount outstanding in the 2018 bond. Alsacia sold the $464m 8% 2018 amortizing bond in February 2011. Alsacia said its failure to service the bond on Tuesday was not an event of default because a majority of bondholders h

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