Soares da Costa Investments reported this Friday, that will not repay a loan bond issue in the amount of 20 million eur to the sole proprietor, which is the Millennium BCP, said the company in a statement.
THE SDC Investimentos, SGPS, sa "informs you that it will not proceed to the reimbursement of its bonds (ISIN: PTSCOEOE0004 – Obligations to Grupo Soares da Costa 2007/2016, in the amount of 20 million euros, which is due on the 28th of the current month of November," reads the statement sent to the Commission for the Securities Market (CMVM).
The Millennium BCP is the sole holder of the bonds of this loan that was the modality of private subscription, and is not the same included in the market, or quoted, advances the SDC Investments.
In the document, the company reminds that you are in "the process of restructuring of its liabilities banking", adding that this "has evolved in a positive way, though this is not yet done".
And explains that it includes the bonds in question, for which reason the same "will not be refunded on such date of maturity, being formally in default".
However, in the face of the existence of this negotiating process, says the company, "does not foresee any as a consequence of this non-compliance", getting "your healing dependent on the specific solution" of the process, that hopefully, "can occur in the short term".
THE SDC Investimentos (ex – Grupo Soares da Costa SGPS, SA) is a holding company and investment, with interests in the area of business and building construction specializing in the areas of infrastructure concessions and in real estate, according to the information available on your page on the internet.
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