Longvie seeks to restructure defaulted bond

Longvie seeks to restructure defaulted bond

Corporate & Sovereign Strategy Bonds Debt Fixed Income Loans Argentina Coronavirus

Argentine home appliances manufacturer Longvie said it will seek to restructure a $20 million bond it defaulted on more than a year ago when a lockdown for the COVID-19 pandemic slashed sales. "The company will initiate conversations with bondholders," company chairman Eduardo Raúl Zimmermann said in a securities filing. Longvie sold the two-year, variable-rate notes in October 2017, but it could not pay back at maturity as a financial crisis that began in 2018 pushed it to losses. A sharp deval

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