Chile Car Dealer Misses Coupon, Agrees to Debt Restructuring

  • Gildemeister says it has approval from holders of 70% of debt
  • Creditors will have option to buy 40% of common shares

Automotores Gildemeister SA, a Chilean car dealer, agreed to cede options to buy 40 percent of the company to its bondholders as part of a restructuring of debt. The company failed to pay a coupon on its 2021 bonds that was due Tuesday.

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