He Mexican lender Unifin said on Saturday evening that its shareholders had agreed to enter into a contract to finance an exit from the bankruptcy process and to increase its share capital on terms consistent with the offer in its bankruptcy agreement.
Unifin focuses its business model on supply specialized financing for companiesincluding car loan.
The company worked on procedures for commercial bankruptcy since last year.
In its statement, Unifin said it would issue a certain number of bonds. Actions normal, which will represent the variable part company social capital must be signed and paid by certain recognized creditors.
Unifin added that shareholders have agreed that 85% of the company’s restructured capital shares will be distributed proportionately between loans convertible common notes and certain reserves required by the bankruptcy agreement.
He added that 5% shares restructured package will go into trust to implement an incentive plan for “the company’s executives” and that 10% of the shares of the restructured share capital of the company will be distributed proportionately among the current shareholders of Unifin.
Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
