Solocal announced on Monday that it has sought the agreement of its creditors to defer the payment of coupons and modify certain of its financial covenants.

In a press release, the group explains that it wishes to defer until January 30, 2024 the payment of coupons due under the bonds and mini-bond initially due in June 2023, September 2023 and December 2023.

In addition, Solocal plans to seek the agreement of its bondholders to obtain a waiver of certain of its financial covenants, namely the ratio of consolidated EBITDA to consolidated net interest expense and the consolidated net leverage ratio.

An identical waiver request will be sent to
creditors under its revolving credit facility (RCF).

Last June, the Group announced its intention to enter into discussions with its financial creditors, negotiations which are continuing to date.

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