Alsacia concludes restructuring

Alsacia concludes restructuring

Corporate & Sovereign Strategy

Chilean transport operator Inversiones Alsacia has issued a senior unsecured 8% $364.4m 2018 bond as part of a pre-packaged restructuring plan under the US chapter 11 bankruptcy framework. A majority of bondholders had agreed to a plan to restructure Alsacia’s previous 8% 2018 bond, the operator of Santiago’s public bus lines said. Under the deal, investors holding Alsacia’s 2018 senior secured bond have received a new 8% 2018 paper equal to their existing holding plus accrued interest in cash.

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