Troubled Codere fails to pay coupon in 30 day grace period
Codere, the Spanish gambling company that is negotiating a financial restructuring with its bondholders and lenders, has decided not to pay the coupon on its €760m 8.25% senior bonds due 2015.
The coupon payment was due on December 15 but Codere was granted a 30 day grace period, within which it failed to pay the interest.
The company said in a statement that “the coupon payment already stated maturing January 15 2014 will not take place” and that “Codere
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