“In terms of the Waiting Agreement, each one of the Bank Creditors assumed the obligation to withdraw from the precautionary measures and precautionary measures that he had initiated and obtained prior to the signing of the Waiting Agreement, and that are disruptive to the operation of the business of the issuer,” he added.
Vasconia considered that this event is the recognition of his choice for “an orderly and transparent restructuring” of his liabilities, whose intention is improve your relationship with its creditors, while “managing to strengthen its operation and viability over time.”
It was early last month when Grupo Vasconia, together with its subsidiary in charge of the station’s industrial division, Almexa Aluminio, informed the BMV that they would carry the restructures its financial liabilitiesso they had started talks with their bank creditors.
He added that since it had been exposed “in a timely manner” to the investing public in the last quarterly reports, various internal and market circumstances caused Amexa’s margins to will decrease “drastically”“provoking the need for the aforementioned restructuring,” he added.
With information from Reuters and Tzuara De Luna