April 8, 2020 |
Mexican petrochemical group Idesa said on Monday that it postponed the early deadline for a proposed bond swap to April 10 from April 3, although it left the final deadline in place on April 17.
Idesa announced last month that it wanted to exchange its 7.875% 2020 notes for up to $303 million worth of new 9.375% 2026 bonds, offering creditors full payment at "improved terms."
Idesa said at the time that the new notes would include a "solid collateral package," but some bondholders are said to be
Some bondholders are pushing for more collateral in a $303 mln debt exchange