This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Credito Real Warns Creditors of Terminating the Bankruptcy Agreement
August 16, 2023
Credito Real warned creditors that unless other legal challenges are withdrawn, it might terminate the agreement to file a pre-packaged bankruptcy, according to court filings. Last week, the company had sought a 30-day deadline extension to file the bankruptcy package. Credito Real lawyer John Cunningham of White & Case LLP had written a letter on August 11, stating that if the conditions were not met by Monday, the company would terminate the agreement. Creditors argued that the timetable was unreasonable and included a copy of the letter in their August 14 court filing. It was unclear if those cases had been withdrawn. The filing is the latest twist after Credito Real defaulted on $1.9bn of dollar bonds in February 2022.
Credito Real bonds traded flat to slightly lower with its dollar bonds at 11-12 cents on the dollar.
For more details click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.