CEDC Says Creditors Allowed Earnings Delay to Avoid Default
Central European Distribution Corp. (CEDC) bondholders agreed late yesterday to the company’s request to delay release of second-quarter earnings until as late as Nov. 12, the company said in a regulatory statement today.
Poland’s second-biggest vodka producer had to secure consent from a majority of bondholders or publish the results in 30 days to avoid a default and early payment of 430 million euros ($528 million) of debt due in 2016.
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