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Globo delays repayment of $300 million-plus of restructured bonds to simplify mechanics
New York, Nov. 10 - Globo Comunicação e Participações SA said it has delayed its planned repayment of more than $300 million of its restructured bonds to simplify the process.
Payment will now be on Dec. 7, not Nov. 20.
As previously announced, funding will come from operating cash flow and R$ 39 million of asset sales earlier in the year. The debt service reserve account for the bonds will remain at its maximum amount of $110 million.
Globo will repay $11.8 million of its series A bonds, R$ 9.2 million of its series A2 bonds, $154.8 million of its series B bonds and $146.0 million of its series C bonds.
Rio de Janeiro-based Globo Comunicação e Participações was formed from the merger of TV Globo Ltda. with Globo Comunicações e Participações SA -Globopar.
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