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the Astaldi Bond Committee he is ready to take his first steps. In anticipation of the financial restructuring plan that will be presented in about two weeks by the company, President Nicolas Johnson informed the more than 500 members, through a press release published on the official website www.bondholdersastaldi.it, that the first meeting of the Committee will take place on 15 December in Rome.
This is the Committee's second most important step, accounting for more than 10% of bond issues, after the one that gave the government a representation mandate. Law Firm Lawyer of Rome to protect as much as possible the interests of the retail bondholders who ended up in disgrace after Astaldi's financial crash and to protect their rights when Astaldi's restructuring plan will be presented and negotiated. "That's because – he wants to reiterate Johnson – We have absolutely no intention to pbadively help what Astaldi will do and to undergo treatment that may penalize us in the face of other unsecured creditors, including banks. In addition, it will be important to understand how the solvency crisis of the company happened when, in March alone, at the time of the presentation of the 2018 quarterly report, the management had put on paper that Astaldi planned to complete the exercise of this would have resulted in a capital increase of 300 million euros to put the budget safely by refinancing and at the same time refining the high-yield bonds maturing in 2020 ". The bonds – as is known – have fallen to 25 shares losing three quarters of face value and, being securities with a minimum of 100,000 exchangeable euros, it is easy to imagine the size of losses in capital employed by non-institutional investors.
Astaldi studies the stew
Meanwhile, according to recent rumors, Astaldi's advisers are working on a solution (already known for a long time) to split the Roman contractor in two, setting aside the healthy parts that include the acquired or pending orders other concessions with debts. The first company would therefore be integrated with Salini Impregilo, who did not hide his interest in Astaldi's juicy trade, while the latter had to go to the creditors' satisfaction and would then be put into liquidation. According to badysts, this also includes the sale of the concept of the Third Bosphorus Bridge in Turkey for an amount of at least 200 million euros.
Meeting of Astaldi Bondholders
This issue will also be discussed in Rome at the first general meeting convened by the Committee, which includes on the agenda the appointment of the board of directors and the adoption of a new statute . The appointment is set for December 15 at 15:30 atSmart Hotel in Piazza Indipendenza n. 13 / B. The opportunity will also discuss the financial restructuring plan that Astaldi must present to creditors by December 13, with the exception of which it will be known only 39 at the last moment. In any case, the technical deadlines set by the law to conclude the restructuring process in the continuity regime are up to 120 days, which could reach 180 days in case of extension. So end of March 2019.
Finally, the bondholder representative recalls that investors can participate or be freely represented at the meeting during registration and membership of the Committee. To do this, just send an email to [email protected] or follow the instructions on the official website www.bondholdersastaldi.it, also to keep you informed, to receive information and news about the restructuring of Astaldi bonds
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