'Strong And Stable Capital' Foundations Set To Boost Spain's DIA
The executive chairman of Spanish retailer DIA, Stephan DuCharme, has said that a newly-agreed capital structure will provide "strong and stable capital foundations" that will help the business continue its turnaround process.
DuCharme was commenting as DIA agreed a long-term financing and capital structure solution with 100% of its syndicated lenders, which will be underpinned by 'significant support' from reference shareholder LetterOne.
It has agreed with creditors to convert debts of €500 million owed to LetterOne into new shares, as well as to extend the maturities of other debts.
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