Sunday, November 1, 2020
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Nyesa Proposes a 70% Discount for Some Creditors or the Exchange of Debt for Capital

The listed real estate company has submitted a proposal to the Commercial Court of Zaragoza modifying the creditors' agreement that allowed it to exit bankruptcy two years ago.

The listed real estate group Nyesa, with its property development and real estate businesses, has made a proposal to the preferential creditors offering a 70% reduction and the collection of their loans in two payments three years or more after the signing of the agreement. As such, they would ensure that the rest of the ordinary and subordinated creditors fully collect the loans they granted, within ten years of the agreement being completed.

The Board of Directors of the listed company has already submitted this proposal to the Commercial Court of Zaragoza. It modifies the creditors’ agreement through which the firm managed to exit bankruptcy proceedings two years ago, as reported to the National Securities Market Commission (CNMV).

Read the full article in Spanish.

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