November 23, 2020 |
Brazilian tourism and travel company CVC said late Thursday that it had restructured BRL1.5 billion ($280 million) in debt to deal with the financial fallout from the COVID-19 pandemic.
CVC extended the maturity on BRL600 million worth of debentures by one year to November 2021 and agreed to pay 57% of the principal on November 23. It also agreed to pay 10% of the principal of two other debentures on the same day, it said in a securities filing.
The Santo André-based company said it will start m
Brazilian tourism and travel company extends maturities and reschedules payments for $280 mln in debentures