Brief: Ezentis Approves Its Debt Restructuring Plan

Grupo Ezentis SA

03/04/2023 07:08

April 3 (Reuters) - Grupo Ezentis  EZEN.MC :
    * SAID ON FRIDAY EZENTIS AND ITS SUBSIDIARIES EZENTIS FIELD
    * FACTORY SLU AND EZENTIS TECNOLOGIA SLU HAD SIGNED PLANS TO
RESTRUCTURE THEIR DEBT
    * EZENTIS HAS ALSO FILED A REQUEST FOR JUDICIAL APPROVAL OF
THE
RESTRUCTURING PLAN BEFORE THE MERCANTILE COURT OF SEVILLE FOR
THE PURPOSE OF EXTENDING THE PROVISIONS OF SAID PLAN TO ALL
AFFECTED DEBT CREDITORS WHO HAVE NOT SUBSCRIBED OR VOTED IN
FAVOR OF THE RESTRUCTURING PLAN
    * UNDER THE RESTRUCTURING PLAN, THE GROUP WILL REFINANCE ITS
DEBT
AND REORGANISE ITS CORPORATE STRUCTURE, WHICH WILL GIVE RISE TO
A NEW FINANCIAL AND COMMERCIAL STRUCTURE
    * THE FINAL RESULT OF NEW CORPORATE STRUCTURE WILL
DIFFERENTIATE
TWO PERIMETERS: ONE RELATED TO THE TELECOMMUNICATIONS BUSINESS
AND ANOTHER RELATED TO THE TECHNOLOGY BUSINESS
    * THE AFFECTED FINANCIAL DEBT WILL MEAN A DEBT REDUCTION OF
MORE
THAN 80% OF THE 167 MILLION EUROS AND WILL BE ASSUMED THROUGH
THE TELECOMMUNICATIONS BUSINESS

        
 Source text: https://bit.ly/3ZCR2dZ
 Further company coverage:  EZEN.MC  

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