Restoque Concludes Extrajudicial Recovery Plan With Creditors

Restoque successfully concluded the negotiation of an agreement for restructuring of all its debts through an extrajudicial recovery plan, applicable to all its financial creditors, company says in filing.

• Agreement involves financial institutions and local bonds holders, doesn’t include suppliers, employees or any other commercial partners
  • Will be subject to judicial ratification and to a general shareholders’ meeting
• Under the agreement, Restoque will have a 12-month grace period to start paying interest; principal amount’s installments be paid from June 2023, with more than 70% of total debt maturing at end of June 2025
  • Financial cost of the restructured debt ...