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Codere defaults on interest repayment

15th January 2014 7:08 am GMT

Spanish gaming group Codere has admitted that it will be unable to make a coupon payment on a Euro bond dated December 15th 2013, despite having already delayed the repayment.

The operator explained that due to the company’s current circumstances and ongoing negotiations to refinance its €1.2bn debt, it has decided not to provide its financial subsidiary Codere Finance Luxembourg with the funds needed to pay off the interest which was due today.

Codere had originally been [...]

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