April 23, 2019 |
Brazil's USJ has extended the deadline on a proposed bond swap for the second time, giving note holders until May 3 to exchange $277m in 2019 and 2021 bonds for new notes and cash.
The sugar company initially set the deadline on April 5, but it extended the due date to April 19 to attract more takers.
Bondholders had tendered $4.41m in 2019 notes, or 15.1% of the principal, and $40m in 2021 notes, or 16.1% of the principal, by April 19, USJ said in a statement.
USJ had $29.1m in outstanding 2019
Brazilian sugar company gives investors until May 3 to exchange $277m in bonds