Chile’s WOM Approved to Raise $500 Million to End US Bankruptcy

Chile telecom WOM won court approval to raise $500 million as part of a deal with noteholders to exit bankruptcy and end supervision of the company’s affairs by a US judge.

• Under the deal, noteholders, including funds managed by BlackRock Financial Management and Moneda, will guarantee that WOM will sell enough new, convertible notes to help fund the company’s exit from bankruptcy, according to court records
• US Bankruptcy Judge Karen Owens approved rules for the rights offering during a court hearing Thursday; Owens asked the company to translate as many documents as possible into Spanish and to send notices ...