Vestel proposes new terms for $500 million debt
Vestel Elektronik has presented bondholders with two alternatives as part of a debt restructuring proposal involving its $500 million bonds maturing in 2029.
Under the first option, the company proposes extending the bonds' maturity to 2035 with an annual interest rate of 4%. The second option offers a new debt instrument maturing in 2032 with a 6% interest rate, in exchange for a 45% reduction in principal.
The proposed alternatives do not constitute a completed debt restructuring agreement. Bondholders' responses and the outcome of the process will be important in determining Vestel's financial obligations and debt repayment schedule.
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