Codere again postpones its restructuring, until November 19 By EFE

Madrid, Nov 8 (.) .- Codere (MC 🙂 announced this Monday that it is again postponing the financial restructuring of its debt, scheduled for next Wednesday, until November 19, in order to complete the necessary documentation after the presentation of the results of the third quarter, also on Wednesday.

In a statement sent to the Spanish stock market supervisor, the CNMV, Codere explains that it will pay in cash the interest on the super senior bonds due as of September 30, together with all the interest accrued subsequently, “at the time of implementation of the restructuring, “a process that began last April.

The gambling company obtained in mid-October the consent of 98% of its bondholders to carry out bond issues for an amount of 353 million euros as part of said restructuring, prior to the liquidation of the company.

After the liquidation, Codere will continue to operate through a new company based in Luxembourg, of which the bondholders will have 95%, while the remaining 5% will correspond to the current shareholders of the group.

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