Longvie gains creditor approval for restructuring

Longvie gains creditor approval for restructuring

Corporate & Sovereign Strategy Bonds Debt Fixed Income Argentina Commerce Coronavirus

Argentine home appliances manufacturer Longvie said it has reached a deal with creditors to restructure $20 million worth of bonds that it defaulted on more than a year ago when a lockdown for the COVID-19 pandemic slashed sales. The bondholders agreed unanimously to accept the new terms and conditions of the variable-rate bond, and the company agreed to limit dividend payments and meet certain financial ratios in exchange. The notes will be repaid in three quotas, the first two of which will be

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