PropertyEU

Immofinanz in EUR 1.5b bond swap to avoid insolvency

By A staff reporter 2009-04-16T00:00:00

Cash-strapped real estate group Immofinanz plans to swap EUR 1.5 bn worth of convertible bonds into new convertibles at a lower face value to avoid insolvency. The group, which in February launched a restructuring of its business to boost its liquidity, is offering holders of five outstanding convertibles new bonds ...

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