Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Vitro Says It Issued Debt Approved Under Restructuring

Don't Miss Out —
Follow us on:

March 21 (Bloomberg) -- Vitro SAB, the Mexican glassmaker in contested bankruptcy proceedings, said it issued debt as part of the restructuring approved earlier this year by a judge in Monterrey, Mexico.

Vitro issued senior notes worth $815 million with an interest rate of 8 percent and maturing in 2018 along with obligatory convertible notes worth $110 million with an interest rate of 12 percent. The convertible notes mature in 2015 and would convert to a 20 percent equity stake if they aren’t paid down before maturity.

Vitro said it also paid a restructuring fee, without disclosing the amount. The company sent an e-mailed statement today.

Link to Company News:{VITROA MM <Equity> CN <GO>}

To contact the reporter on this story: Jonathan Roeder in Mexico City at jroeder@bloomberg.net

To contact the editor responsible for this story: Jonathan Roeder at jroeder@bloomberg.net