The gambling firm has renegotiated the terms of its senior secured debt notes to postpone their maturity to 2023 on the condition of a higher interest rate.
Coderes Creditors Approve Renegotiation of Terms
Spanish gambling group Codere SA has received green light by its creditors to renegotiate the terms of its senior secured debt notes. The multinational manages gaming machines, bingo halls, casinos, racetracks and sports betting locations in Latin America, Spain and Italy.
The payment deferral scheme is part of the firms ongoing restructuring arrangements and the updated terms allow for the postponing of debt maturity payments from 2021 to 2023. Codere Luxemburg, a subsidiary created to repay interest on 2020 and 2016 revolving credi…
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