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Emerging MarketsEM LatAm

Secured bondholders take driver’s seat in Chilean car seller restructuring

Chile, Hyundai, car, restructuring, automotores gildemeister, LatAm, recession, crisis, default, 575

Chilean car seller Automotores Gildemeister is seeking bondholder permission for a restructuring that would see senior secured creditors receive all the company’s equity and a combination of secured and unsecured bonds. Unsecured bondholders — who will be offered a far more meagre recovery — have hired legal advisors.

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