Codere Said to Plan 45% to 50% Debt Cut as Part of Restructuring
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Codere SA and its creditors are said to be planning to reduce the Spanish gaming company’s debt by as much as 50 percent as part of its 1.1 billion-euro ($1.5 billion) restructuring.
The two sides have yet to agree on how much equity will be transferred to creditors and how much the company’s founding Martinez Sampedro family will retain, according to two people familiar with the talks, who asked not to be identified because they are private.