Chilean car seller set for Chapter 11 after missing coupon

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Chilean car seller set for Chapter 11 after missing coupon

6 April 2021 Emerging markets 0
Automotores Gildemeister, the distributor of Hyundai cars in Chile and other South American countries, is set to file for bankruptcy with the support of its bondholders after missing a coupon payment on its $510m senior secured 7.5% 2025s on April 1. The process is set to reduce the company’s debt by $200m, said the issuer