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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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La Seda de Barcelona SA Hopes To Halt Insolvency With Debt Deal-Reuters

Tuesday, 25 Jun 2013 02:20pm EDT 

Reuters reported that La Seda de Barcelona SA will ask shareholders to approve its debt refinancing plan and allow it to withdraw from insolvency proceedings on June 26, 2013. The Company said in a stock market notice on June 25, 2013 that it had reached a preliminary deal to refinance 75% of its syndicated debt with creditors, after saying last week it would file for insolvency. The Company should now be able to restructure EUR 235 million (USD 307 million) of syndicated debt following the agreement, with over half its creditors signing up to refinance 75.4% of the debt. 

Company Quote

0.049 +7.21%
17 Jun 2013