Idesa asks to swap notes

Idesa asks to swap notes

Asset Management Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Mexico US

Mexican petrochemical group Idesa said on Monday that it offered to swap its 7.875% 2020 notes for up to $303 million worth of new 9.375% 2026 bonds as part of its efforts to refinance debt. "After several weeks of analysis and discussions with key stakeholders, we are moving forward with a refinancing plan that will significantly improve the credit profile of the company and provide creditors with at least full payment through new refinanced debt that has improved terms," Idesa said in a securi

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