December 6, 2019 |
Celulosa Argentina said Thursday that it will not make a $5 million payment on a $60 million bond that it did not roll over last week, a sign of the financing challenges hitting more companies in the crisis-weary country.
The pulp and paper company received 92% participation in a bond swap last week, exchanging the maturing bullet bond that paid 9.5% interest with a new one paying 10% interest and amortizing over 5.5 years.
Instead of paying the investors who did not participate in the deal, Cel
Argentine paper company is the first of more firms facing problems from tight access to credit