September 13, 2021 |
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
Argentine home appliances maker will try to extend maturity as sales show slight improvement