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Codere shareholders approve liquidation terms


Codere shareholders approve liquidation terms
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iquidation arrangement’ agreed last month with existing creditors. 
Shareholders of the Bolsa Madrid gambling group have approved the terms of the liquidation agreement, allowing for creditors to take control of the embattled firm – the liabilities of which are reported to stand at €700 million.
Terms of the liquidation will see all Codere units (European and South American) merged under a new business entity – which will be supported by a €225 million cash injection which will be credited in three separate instalments. 
Codere creditors will own 95% of the new business entity but will allow for shareholders to purchase warrants applicable to 15% of the new business should its valuation exceed €220 million in the next ten years. ....

United States , Bolsa Madrid , South American , Wall Street , Alden Global Capital , ஒன்றுபட்டது மாநிலங்களில் , போல்சா மாட்ரிட் , தெற்கு அமெரிக்கன் , சுவர் தெரு , ஆல்டன் உலகளாவிய மூலதனம் ,

Moody's downgrades Codere after restructuring announcement

Moody's downgrades Codere after restructuring announcement
sbcnews.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sbcnews.co.uk Daily Mail and Mail on Sunday newspapers.

Moody Investors Service , Investors Service , Codere Finance , Bolsa Madrid , மனநிலை முதலீட்டாளர்கள் சேவை , முதலீட்டாளர்கள் சேவை , போல்சா மாட்ரிட் ,

Codere defers debt note duties until 2023


Codere defers debt note duties until 2023
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The creditors of
Codere SA have allowed the Spanish gambling group to renegotiate the terms of its senior secured debt notes.
The
Bolsa Madrid gambling group has been allowed to defer its debt maturity payments from 2021 to 2023 as part of the firm’s ongoing restructuring arrangements.
Back in July, company creditors had allowed Codere to access a further €250 million credit line, keeping the embattled firm’s South American business units afloat during Covid lockdown.  
The firm’s credit lifeline was extended on the condition that Codere accepted a debt tranche interest of 12.75% – double the rate of interest paid on its long-standing corporate debt of €800 million. ....

United States , United Kingdom , United Kingdom Companies , High Court , Bolsa Madrid , South American , Codere Luxemburg , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , ஒன்றுபட்டது கிஂக்டம் நிறுவனங்கள் , உயர் நீதிமன்றம் , போல்சா மாட்ரிட் , தெற்கு அமெரிக்கன் ,