Celulosa misses bullet bond payment

Celulosa misses bullet bond payment

Asset Management Bonds Debt Capital Markets Fixed Income Funds Argentina

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

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