According published, CODERE has obtained 200 million euros from a group of proprietary funds, in turn, from the bonds that it has been on the verge of not being able to pay.
Codere summoned its board of directors again this Sunday to approve the definitive agreement with its creditors that will allow it to escape the risk of entering into an insolvency procedure. El Confidencial publishes that it has finally been the bondholders who have decided to bet again on the company that is mainly owned by other ‘private equity’ funds such as Silver Point, Prudential and Abrams Capital. The multinational's management had been sounding out other funds such as Pimco and Carlyle, according to sources.
The bondholders who are going to put the almost 200 million committed are Jupiter, Dryden, Invesco, Blackrock and BNY Mellon, who are the ones that have a significant part of the close to 800 million euros and dollars that Codere has issued in bonds and whose expiration is set for November 2021.
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