Urbi to present restructuring plan
Struggling Mexican homebuilder Urbi is preparing to present lenders with a debt restructuring plan after entering into a 45 day standstill agreement with its main bank creditors.
Ca/C-rated Urbi sold $500m of 2022 bonds only a year and a half ago, and also has a $150m 2016 and $300m dollar bond outstanding. All the issuer’s bonds are senior unsecured.
The company, which is being advised on the restructuring by Rothschild and Alvarez
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