Hortifruit says bond covenant in jeopardy

Hortifruit says bond covenant in jeopardy

Bonds Debt Fixed Income Capital Markets Chile

Chilean berry grower Hortifruit said it is in a dispute with bondholders who argue that the firm violated a financial covenant following a decline in EBITDA. The Santiago-based company said in a securities filing that the representative of a group of bondholders believes the impact of the fall in earnings stemming from a change in plant variety has affected the adjusted net debt-to-adjusted EBITDA ratio stipulated in bond agreements. Hortifruit said it disagrees and added that if the bondholders

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