Spanish Auto-Parts Maker Grupo Antolin Strikes Debt Revamp Deal

Grupo Antolin-Irausa SAU has entered into an agreement with some creditors to restructure more than €1 billion ($1.1 billion) of debt, a deal that gives the Spanish auto-parts maker more runway and helps improve liquidity.

The “recapitalization support agreement,” reached with a majority of the Burgos-headquartered company’s bank lenders, gives creditors two options to swap their holdings for new debt instruments, according to a filing in the Luxembourg Stock Exchange dated Tuesday.

All creditors are being offered the option to exchange their debt holdings for loans and new bonds reinstated at par and maturing in 2035, with a 6.97% interest ...