Codere defaults on 2nd bond, rejects plan

Codere
By Stefanie Linhardt
21 Feb 2014

Codere, the troubled Spanish gambling company, has rejected bondholder plans to restructure its debt, after it failed to make coupon payments on both its bonds.

The company decided in December not to pay the coupon on its €760m 8.25% 2015 notes and announced on Friday that it would not pay the interest on its $300m 9.25% 2019 high yield bond either. That was due on Monday, February 17.

Codere’s bondholders proposed a plan to ...

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