Pescanova SA, the Spanish fishing company whose former board hid more than 2 billion euros ($2.7 billion) of debt, is asking lenders to take nominal losses of as much as 97.5 percent as part of restructuring proposals.
Joaquin “El Chapo” Guzman, the alleged leader of Mexico’s Sinaloa Cartel, was arrested by Mexican and U.S. authorities overnight in the beach town of Mazatlan, the Associated Press reported, citing a U.S. law enforcement official who asked not to be identified.
Shareholders of Pescanova SA, the Spanish fishing company that’s restructuring more than 2 billion euros ($2.7 billion) of previously undisclosed debt, are asking creditors to accept losses of as much as 73 percent, according to a person familiar with the matter.
Pescanova SA’s loans show that creditors may accept losses of almost 90 percent as they negotiate with the fishing company to restructure more than 2 billion euros ($2.7 billion) of previously undisclosed debt.
Wang Jing, the Chinese billionaire behind a $40 billion plan to cut a canal through Nicaragua, said he’s successfully attracted global investors for a project that has been on the drawing board for more than 150 years.