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Re: stockpick027 post# 127

Monday, 05/05/2014 3:48:20 AM

Monday, May 05, 2014 3:48:20 AM

Post# of 166
Current shareholders and management would be left with the remaining stock. (7.5% - 20% )

http://www.bloomberg.com/news/2014-05-02/homex-reaches-deal-to-give-unsecured-creditors-most-of-equity.html


Under terms posted on its website, Homex would give unsecured creditors, including bondholders, 80 percent to 92.5 percent of the equity. Current shareholders and management would be left with the remaining stock. Existing secured bridge loans would be serviced with cash from home sales, and “critical suppliers” will be repaid over time, the company said.

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