Vitro Ends Creditor Feud With $235M Bond Deal

Law360, New York (March 4, 2013, 5:05 PM EST) -- Bankrupt Mexican glassmaker Vitro SAB de CV said Monday that it had settled a protracted, cross-border legal war with bondholders over its attempted reorganization, saying its largest creditor has agreed to buy bondholder debt in exchange for a $235 million bond and equity in a company subsidiary. 

Vitro said in a statement that Fintech Advisory Ltd. will buy the debt of the company’s so-called dissident bondholders in exchange for a 13 percent stake in an unnamed Vitro subsidiary.

The $235 million note that is part of...
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