June 8, 2020 |
Brazilian retailer Restoque said on Friday that it reached an agreement with creditors to restructure around BRL1.43 billion ($288 million) in debt.
Under the agreement, Restoque will convert existing debt into two series of debentures. The first series will have a maximum value of BRL606 million and pay the DI interbank lending rate plus 2.7%. The second series will have not upper limit and pay DI plus 2.9%, "which is very close to the current total financial cost of the company," Restoque said
Brazilian clothing company reaches an agreement to restructure $288 mln in debt