But there is worse to come as the payment is just part of the [euro]17.4billion due to be paid to bondholders
The proposal will be voted at a bondholders
' meeting slated for 5 October 2011.
Launched in the first week of October, the promotion which runs till December 31 2009, offers a three-tier winning format for bondholders
based on the amount of savings they hold with National Bonds.
Shareholders were often required to suffer losses or were even wiped out, but bondholders
were generally saved by the government's infusion of cash.
In a filing late Wednesday in Delaware court, bondholders
say the ''fraudulent'' deal imposed an ''unsustainable debt burden'' on an already declining business.
"We do not want GM to go bankrupt," bondholders
, shareholders, retirees, current employees, or the UAW lamented.
But a committee representing thousands of GM bondholders
has resisted those terms as both unfair and uncertain to succeed in keeping the struggling automaker out of bankruptcy.
(STO:ARP) (WSE:ATC) announced on Wednesday that that a meeting of bondholders
of series A bonds of the issuer with ISIN code PLARTPR00038, issued pursuant to the terms and conditions of issue of 30 September 2016, was concluded on 24 July 2019.
Fitch reviewed the provisions and determined they provide bondholders
with a substantial preferential right in a bankruptcy proceeding, warranting a GO bond rating two notches higher than an entity's IDR.
The bill introduces the meeting of bondholders
; it will represent the interests of the bondholders
and agree on significant changes in terms and prospects of the bond.
Seadrill succeeded in reaching a global settlement with an ad hoc group of bondholders
, the official committee of unsecured creditors, and other major creditors in its chapter 11 cases.
The offshore unit of Villar-led property developer Vista Land and Lifescapes (VLL) has obtained consent from the majority of its bondholders
to tweak the term sheet of $425 million worth of outstanding bonds due 2022.
The cash-strapped shipbuilder is likely to escape its liquidity crisis, as corporate bondholders
agreed this week to a debt rescheduling program in which they will get a debt-for-equity swap for half of their bonds and will roll over the repayment of the other half for three years.
This would provide iHeart, it said,with the flexibility to make exchange offers to all bondholders
— including non-U.S.