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Codere shares slump as debt refinance talks continue

3rd January 2014 9:08 am GMT

Spanish gaming group Codere said Thursday that it continues to negotiate to refinance its €1.2bn debt as the company seeks protection from creditors in order to avoid insolvency.

Codere said that despite generating EBITDA of €287.3m in 2012, some “extraordinary” events during the past two years had resulted in liquidity constraints for the company.

This included the payment of €107m for the anticipated renewal of its gaming licenses in the Argentine province of Buenos Aires, the implementation [...]

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