General de Alquiler shareholders approve restructuring capitalization

By Caroline Salls

Pittsburgh, June 1 – General de Alquiler de Maquinaria, SA’s shareholders approved the capitalization of the company’s financial debt in connection with its restructuring at a May 29 meeting, according to a news release.

The capitalization resolutions will take effect when the restructuring is approved by the court.

As previously reported, holders of General de Alquiler de Maquinaria’s senior unsecured convertible notes due 2017 will have the opportunity to accept a write-off of the amounts due to them in lieu of the capitalization approved by the shareholders.

General de Alquiler is an equipment rental company in Spain and Portugal and is based in Oviedo, Spain.

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