SMI misses mark in bond buyback

SMI misses mark in bond buyback

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Peru

Peruvian plastic products maker San Miguel Industrias (SMI) said Tuesday that it plans to offer to buy back the remaining 4.5% 2022 bonds in the market after coming up short in a first tender offer. Holders of $205 million of the notes, or about 68.32% of the outstanding amount, agreed to the terms of the first buyback offer by the final deadline of Monday, the company said in a press release. In the early-bird period of the tender, the company rallied holders of $204.6 million in the bonds with

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