October 27, 2021
Mexican hotel operator Grupo Posadas said Tuesday that it received additional support for a restructuring plan from holders of its 7.875% 2022 bonds.
Mexico City-based Posadas has asked to put off payment on the outstanding bonds until the end of 2027 so it can "prioritize the use of cash for operating activities," it said in a press release.
Posadas reached an agreement with a group of bondholders in August to restructure $393 million worth of 2022 bonds, looking to delay due date by offering
Mexican hotel expects to complete the process in 60 days with backing from 100% of bondholders