Credito Real bondholders have engaged investment bank Houlihan Lokey Inc. as an adviser regarding restructuring talks as per sources. This comes after the non-bank lender defaulted on a CHF 170mn ($180mn) 2.875% bond due February 9, triggering cross-default clauses across multiple tranches of its other debt. The company said it brought together over 100 representatives across local and global institutions for restructuring.

Credito Real’s dollar bonds were stable with its 9.125% Perp at 11.8 cents on the dollar.

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