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Spanish gaming operator Codere defaults on €127m loan

10th February 2014 10:13 am GMT

Madrid-listed gaming operator Codere has failed to reach agreement with creditors to extend a €127m Senior Credit Facility which matured last week.

The company had hoped to exercise an option to further extend the facility until April 15th, but said in a stock market announcement Thursday that it had failed to reach a debt restructuring agreement with at least 50 per cent of bondholders, one of the preconditions for extension.

The company said that it continues to [...]

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