Maxeda’s Bonds Rally After Debt Cut, Goldentree Equity Deal

Maxeda DIY Holding’s bonds jumped after the company reached a deal with creditors to cut its debt and raise new equity from Goldentree Asset Management, one of its existing shareholders.

Maxeda’s senior secured bonds were quoted 6 cents higher on Monday at around 82 cents on the euro, according to data compiled by Bloomberg. The rally almost fully reverses last week’s sharp price drop.