Idesa delays bond swap deadline again

Idesa delays bond swap deadline again

Asset Management Bonds Debt Capital Markets Fixed Income Funds Mexico Brazil US

Mexican petrochemical company Idesa has delayed the deadline on a proposed bond swap for the fourth time, giving investors until May 15 to sign up for new 2026 notes.Bondholders tendered $193 million in 7.875% 2020 notes, or 64.5% of the outstanding amount, by the previous deadline on May 8, Idesa said in a statement on Monday. In the latest extension, Idesa said it put limits on selling loans to the joint venture it has with Brazil's Braskem and added a mandatory cash sweep to certain repayment

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