CMC Ravenna bonds drop on missed coupon

Italian construction firm Cooperativa Muratori e Cementisti di Ravenna officially announced it would miss the November 15 coupon payment of its 2023 bonds.

  • By Victor Jimenez
  • 12 Nov 2018

Those bonds were trading at 30 cents last Friday, said a high yield fund manager, and lower this week, after trading in the high 70bp area as recently as September.

CMC Ravenna said it would have to miss the November 15 payment and was "considering the necessity to undergo ...

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