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PlusPlus bondholders grant reprieve; next steps in due course
Chicago, Sept. 27 – PlusPlus Capital Financial Sarl was granted a reprieve from bondholders of its 11% euro-denominated bonds due 2026 (ISIN: XS2502401552) at an adjourned meeting held on Sept. 26, according to a press release.
There were €100 million of the bonds originally issued.
The company plans on restructuring the bonds, but first needed a quorum of bondholders to decide against the termination of the bonds and to not instruct the security agent to enforce the guarantees.
Out of the quorum present, 84.19% of the bondholders voted to back the company and help it resolve its liquidity difficulties.
The company said it would provide information on the next steps in due course.
Tallinn, Estonia-based PlusPlus is a pan-Baltic and Finnish technology-driven receivables management group.
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