ACI offers more time for bond swap

ACI offers more time for bond swap

Corporate & Sovereign Strategy Bonds Debt Fixed Income Uruguay Capital Markets

Uruguay's ACI Airport Sudamérica has extended a proposed bond swap for another two weeks after it failed to meet the minimum acceptance amount by the initial early deadline on October 22, it said in a statement on Monday. ACI said it will now pay a $1 premium through November 5 to investors who exchange 6.875% 2032 bonds for notes that mature in 2034. Holders of more than half of the outstanding debt have signed on to the swap, but ACI needs investors with 75% of the notes to agree for the deal

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