Celulosa to miss bond payment - LatinFinance

Celulosa to miss bond payment - LatinFinance

Argentine pulp and paper producer joins list of companies with debt problems even as the economy rebounds The post Celulosa to miss bond payment appeared first on LatinFinance.

The company, leader in its sector, attributes the decision to the decline of sales in the domestic market and to the increase of costs in dollars.

Fuente, Sphere Financiero Celulosa Argentina, one of the main wastebaskets in the country, informed the National Securities Commission (CNV) that it will not be able to pay the dues of debt planned for May 2025. Between April and June, the company had to face US$ 25 million, between securities promissory notes, own cheques and negotiable obligations. "All available resources will be used strategically to ensure the operation and the continuity o…

After the shock that caused Albanesi, it was now Celulosa Argentina who confessed that she has no back to pay what she owes. In an official note she admitted that she will not be able to face expirations for about 25 million dollars. The action collapsed 10% in the Stock Exchange and the crisis drags more firms.

In a new twist in its financial situation, Celulosa Argentina, a leading company in the foresto-paper industry, was the last to announce that it would not be able to comply with the Negotiable Obligations (ON) or with the deferred payment checks that expire in May. The company, which had announced in early April the hiring of the consultant VALO Columbus to analyze strategic alternatives, detailed that it is working on a restructuring of its deb…

Celulosa Argentina reported that it will not pay the Negotiable Obligations or the deferred payment cheques that expire in May, in a note sent to the Buenos Aires Stock Exchange. The situation was already foreseen in the market since April 7 when the company reported the hiring of Valo Columbus with the objective of analyzing strategic alternatives to restructure its debt profile. The reasons mentioned by the company to reach this situation are:…