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Vestel Offers 45% Haircut or Six-Year Extension on 2029 Bonds
Source: Bloomberg
Credit & Bond MarketsM&A & RestructuringCompany Fundamentals
Vestel Elektronik is asking holders of its 2029 bonds to support a restructuring, offering a choice between a 45% haircut and extending the debt by six years. The proposal signals significant financial distress at the Turkish white-goods maker.
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