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Nyesa is Given One More Month to Restructure its Debt

The possible agreement proposes a reduction of 70% of the debt owed to the listed real estate company's privileged creditors.

Infografia del proyecto ruso de Nyesa 1024x568 1
Infographic of Nyesa’s Russian project.

Nyesa has reported that it has obtained a one-month extension from the Commercial Court of Zaragoza for the period that the company’s creditors have to sign up to a debt restructuring agreement, which currently proposes a 70% reduction of the debt owed to the privileged creditors.

In this way, the deadline for accepting the proposed modification of the company’s agreement will now run until 20 January, according to the property developer’s letter to the National Securities Market Commission (CNMV). The initial term ended on 20 December 2020.

Read the full article in Spanish.

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