Lecta’s bondholders hire advisers as restructuring looms

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By Karoliina Liimatainen
13 Sep 2019

Lecta has announced that its bondholders are being represented by investment bank Houlihan Lokey and law firm Willkie Farr & Gallagher, as the Spanish paper company struggles to keep up with bond payments. Last month, the troubled company said it had hired Evercore and Rothschild to advice on “strategic alternatives”, including possibly restructuring the firm.

Lecta is in “constructive dialogue” with the bondholder group, which represent the majority of the 2022 and 2023 senior secured notes, the company said in an announcement on Thursday.

According to Lecta, the bondholders are exploring — together with the company — ways to strengthen Lecta’s balance sheet and ...

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